I've said a couple of times that we could afford a deficit that was as high as the one in the last fiscal year, but we cannot afford that many years in a row. As deficits decline, that suggests that the fiscal situation will return to more sustainable levels of deficit, but it's clear that we cannot afford the same level of deficit that we saw in 2020-21 for many years in a row.
On January 31st, 2022. See this statement in context.