Here are some things we can say with some confidence at this point:
- companies are finding it difficult or impossible to borrow from banks
- future investment is in jeopardy
- unemployment will rise (we just don't know how much or for how long)
- consumer and bank borrowing will unwind and government deficits will grow
- update unemployment policies, including information about what to do if you lose your job
- realise that for many unemployment will probably be a new experience in their careers - how can coping with unemployment and finding work be as straightforward for everyone as possible?
- with government borrowing set to rise, how can this take place within a new framework?
- work out how new jobs can be created in the months to come
- ensure the poorest in society are not left behind as government spending becomes constrained