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#212874 (In Topic #145649)
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The expected budget deficit for 2020-21 was £55 billion in March, according to the OBR.Newport Pleasure In April, it predicted this to rise to £273 billion, falling to £76 billion the following year. Meanwhile, a "worst-case" scenario would see the current budget deficit spiral to £516 billion, the Treasury has estimated.
Officials' modelling to the Chancellor has set out a scenario with a slow, "L-shaped" recovery which would leave the UK saddled with a deficit until 2025.
The £516 billion will be equivalent to a third of GDP under this worst-case scenario, according to the Treasury, which says a slow recovery will leave GDP "markedly lower" than had been forecast before the crisis.
The economy would then remain flat for the remainder of the current Parliament. By Newport box 100s menthol cigarettes 2025 the current budget deficit would still be £178 billion, or 8.7 per cent of GDP.
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