Dr. Mark Cassidy:

We have a central assumption underlying our economic forecast. We are not forecasting the public health situation. We are making an assumption that during the second half of the year the vaccine will not become a one-stop shop but will gradually become effective such that by the end of the year the virus will be effectively contained. If that assumption materialises, the advice will be for a tapering during the second half of the year. As for the exact design of that tapering and this kind of cliff-edge effect, the economy will not return on day one to exactly where it was. Therefore, the idea that one would suddenly stop all supports does not make economic sense, and I think that is generally acknowledged. Previously, yes, I think a form of tapering was planned. It is not for me to make Government policy, but under that assumption what one might expect to see would be a tapering during the second half of the year. I would not, however, want to go further than that-----