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Home Publications Covid-19: deficits, debt and fiscal strategy

Covid-19: deficits, debt and fiscal strategy

Presentation

Covid-19 - and the public health response to it - has pushed government borrowing to levels not seen previously in the UK in peacetime and will leave a lasting impression on the public finances for many years to come. In this special joint webinar, the Institute for Fiscal Studies (IFS) and the National Institute of Economic and Social Research (NIESR) examined the impact of the Covid-19 crisis on the public finances.

Deputy Director of NIESR, Dr Garry Young, outlined some of the possible macroeconomic scenarios. IFS Deputy Director, Carl Emmerson discussed the government’s response and the impact on the public finances. Director of NIESR, Professor Jagjit Chadha looked at measures of how much fiscal space there is and risks associated with elevated debt and deficits.

You can watch the video below, and download the slide pack here.

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Press release
The Chancellor has opened the door to a less generous funding settlement for public services with today's Comprehensive Spending Review announcement. Another round of budget cuts for lower-priority departments is a very real possibility.