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Thread: The biggest GDP shrinkage in 300 years

  1. #1
    Member sophie's Avatar
    Join Date
    Nov 2016

    The biggest GDP shrinkage in 300 years

    It has been announced that the countries GDP will shrink by around 11.5% the most in 300 years! And I fear this will only worsen as we near the end of this financial year!

    But who is going to pay for all of this? I fear the true extent of this will only be revealed over the coming years, not months. There is a suggestion that it will take about 22 years to get back on track! So I doubt one years public sector pay freeze is really going to cut it! There will be pay freezes for years on end! Higher VAT, higher income taxation, maybe rummage through the pensions etc, after all, they’ve been looking for ways to cut public sector pensions for years!

    All in all, we have dark months and years ahead, what will be your choice?... spend now, while you have the chance, or save hard for the rainy days?

  2. #2
    Junior Member
    Join Date
    Sep 2020
    Apparently we have only just finished paying back the deficit from the Second World War so I think 22 years is a bit off the mark, we won’t be back on track for decades! I think spend your money now or put it somewhere where the tax man can’t find it because those that have a little are much worse off in the future than those that have nothing. Sad times ahead

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