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35 YEARS TO REPAY COVID DEBT: British taxpayers believe 18-30s are set to take on the biggest burden

 

The cost of the coronavirus pandemic.

The Office for Budget responsibility said government spending is set to hit £355bn. Meanwhile, research by Progeny suggests Brits believe it could take up to 35 years to pay off the debt incurred by the coronavirus pandemic - with young people believed to be hit the hardest.

Whatever the solution, getting people back into work can only be a good thing - the Current rate of unemployment - according to the ONS from November to January, sits at 5%, that’s roughly 1.7 million people out of work - and as economist Steve McCabe explains,  the figures are stark.

The Princes Trust have cited a total of £7bn loss income for those aged 18-30 due to the pandemic, with many who’d otherwise be working in the hospitality or retail sector, unable to do so...

So what is the solution?

Watch more above and click here for Progeny’s full report

 

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