# €21.5 billion deficit for 2021 and 2022



## Brendan Burgess (12 Oct 2021)

In the summer economic statement, the Government forecast a deficit of €34.5 billion for 2021 and 2022.

He says he is now revising that forecast to €21.5 billion for both year, a reduction of about 40 per cent.


----------



## Brendan Burgess (12 Oct 2021)

These are the figures before the Budget changes


----------



## Purple (13 Oct 2021)

I like the overall fiscal prudence of the budget, a remarkable statement given the size of the deficit.
It just shows how the world is hooked on 'free money'.


----------



## sonandheir (13 Oct 2021)

Purple said:


> I like the overall fiscal prudence of the budget, a remarkable statement given the size of the deficit.
> It just shows how the world is hooked on 'free money'.


2008 we bailed out the banks and the taxpayers paid for it. 
2020 we bail out everyone and the 'free money' will stimulate the economy to pay for itself.

This is Modern Monetary Theory (MMT) in practice. We'll see how it goes.


----------



## Purple (13 Oct 2021)

sonandheir said:


> 2008 we bailed out the banks and the taxpayers paid for it.
> 2020 we bail out everyone and the 'free money' will stimulate the economy to pay for itself.
> 
> This is Modern Monetary Theory (MMT) in practice. We'll see how it goes.


Yep, but a massive increase  in the money supply chasing the same amount of assets has led to the housing and commodity inflation that we have and so caused a corresponding relative devaluation in the real value of labour. T'won't end well.


----------

