Economics lecturer predicts Covid debt could take a decade to pay back

Economics lecturer predicts Covid debt could take a decade to pay back

Assessment

Interactive Video

Social Studies, Business

University

Hard

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The video discusses the economic implications of lower vieti levels, which could benefit consumers through reduced prices. It highlights concerns about national debt, projected to reach 98% of GDP by 2023, and the potential impact of interest rate changes on debt servicing costs. The Chancellor aims to prevent interest rate hikes to manage debt levels. The video also examines tax policies, noting minimal changes to headline taxes and the freezing of tax thresholds, suggesting a long-term approach to debt reduction without significant tax increases.

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5 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What are the potential benefits of lower prices for consumers and businesses?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

How does the current debt level relate to the gross domestic product in 2023?

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

What concerns are raised regarding inflation and interest rates in the economy?

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4.

OPEN ENDED QUESTION

3 mins • 1 pt

What strategies might the Chancellor employ to manage the national debt?

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5.

OPEN ENDED QUESTION

3 mins • 1 pt

How have tax policies been affected by the current economic situation?

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