Wednesday, saw the announcement of George Osborne’s much anticipated spending review. In it, the Chancellor pledged to reduce public sector spending by over eighty billion pounds over the next four years. But will it compromise the country’s economic recovery? And what impact will it have on private enterprise.
Well, if the results of a survey conducted by the Federation of Small Business are to be believed, the majority of small business owners feel that the spending review will have little impact on the private sector.
Jeff Morgan’s, founding partner of ‘Morgan’s Haulage’ comments; “The fact is, the country is in a dire state financially and like in any business, if you are in financial difficulty, cuts need to be made.”
Spokesperson for the Federation of Small Business, John Walker, comments; “We are all well aware of the state the country is in, indeed many of our members have been among the worse affected by the recession. Therefore, they are in a better position to understand, that if the issue of public deficit is to be addressed, cuts must be made.”