Numerous individuals including myself were angry with the Pre Budget announcement .
I had wished that the chancellor would have been proactive and addressed the essential topics such as the existing poor state of the public purse, Public sector earnings, Aiding businesses, boosting saving and investment and the banks to be realistic about lending to commercial enterprises.
Like most company directors I agree that we need to have a combined approach of tax cuts in spending cuts.
The old line of reasoning from the Prime Minister is that accelerated cuts in spending would hurt the UK and strangle the recovery. My view is that although wholesale accelerated cuts could cause a stall in the economy, the timescales suggested is just a little too late.
It seems that the Chancellor is just playing around the edges of any reform and does not want to sway the boat too much before an election.
The result of accelerative public borrowing can be seen when you look at the Eire Economic State of affairs. The once Celtic tiger has had its claws . Real cuts in pay are a realism along with bruising proposals to cut back public borrowing.
I almost choked on my tea last night, whilst watching the six o clock news. Local Government employees were about a limit on salary increments of 1%.
I would preferably be in that position, as opposed to being a worker for local government or public sector in Eire.
Many small small and medium sized shareholders have actually taken pay reductions in the last year, due to the UK recession and slowdown.
As Financial Advisers we offer a Small Business Advice service to our clients on a monthly basis. I would have favoured to see a more basic approach to helping small businesses as they are an key part of the UK business framework.
