It would be much more significant. In the very short term, it would probably lead to an economic recession—a drop in both output and employment—within one or two years.
On May 17th, 2007. See this statement in context.
On May 17th, 2007. See this statement in context.
May 17th, 2007 / 11:35 a.m.
Director General, Economic and Fiscal Policy Branch, Department of Finance
It would be much more significant. In the very short term, it would probably lead to an economic recession—a drop in both output and employment—within one or two years.
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