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

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.

What is one of the benefits of lower VAT levels mentioned in the video?

• Reduced consumer spending

• Higher consumer prices

• Increased government revenue

• Improved business recovery

What is the predicted national debt as a percentage of GDP by 2023?

• 75%

• 98%

• 50%

• 110%

What could potentially trigger an increase in interest rates according to the Chancellor?

• A rise in inflationary pressures

• A drop in consumer demand

• A reduction in government spending

• A decrease in national savings

Which political party is described as the 'low tax party' in the video?

• Labour Party

• Liberal Democrats

• Conservative Party

• Green Party

What is the expected timeline for a significant reduction in national debt levels?

• By the end of the current Parliament

• In the next six months

• In the next decade

• Within the next year