12.14.09
The PM and the Chancellor Brush aside Small and Medium Sized Companies once More
A vast number of people including myself were baffled with the Pre Budget announcement .
I had hoped that the Government would have provided support to businesses and treated the important such as the actual poor state of the public purse, Public sector Pay, providing support to small businesses, promoting saving and investing and making the banks to be realistic about lending to business sectors.
Like most individuals I concur that we need to have a combined approach of tax increases in addition to expenditure cuts.
The old line from government ministers is that urgent spending cuts would hurt the UK economy and hamper the recovery. My opinion is that although sweeping quick cuts could cause a problem with the recovery, the length of time projected is just too slow.
It seems that the Chancellor is just tinkering around the edges of any reform and does not want to rock the boat too much prior to an election.
The impact of raising public borrowing can be seen when you look at the Irish Economic State of affairs. The once Celtic tiger has had its claws taken out. Actual cuts in pay are a realism along with drastic measures to cut public borrowing.
I virtually choked on my supper last night, whilst watching the six o clock news. Public sector unions were upset about a limit on salary increments of 1%.
I would be in that position, as opposed to working for the Public sector in .
Many small small and medium sized enterprises have actually taken pay reductions in the last year, due to the slowdown.
As ifa’s we offer a Small Business Advice service to our customers on a daily basis. I would have opted to see a more refreshing approach to supporting business & small businesses as they are an essential part of the UK business framework.
