21 June 2010 | HARSH BUDGET CUTS MUST BE BALANCED BY DEREGULATION
Deep spending cuts in Tuesday’s Budget must be balanced by a concerted effort to stimulate business if soaring unemployment is to be pre-empted, Britain’s turnaround and recovery specialists are warning.
The expected increases in taxes, particularly VAT, and the prospective loss of thousands of public sector jobs will have a deep consequential impact on consumer spending, says TMA (UK). Added to that will be the adverse effect on the private sector of the anticipated axing of many Government and local government contracts, many of the contractors having relied on the public sector for their very survival.
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