Government Announcements

Given that the Department of Business is facing annual cuts in its budget of 7.1 per cent, broad business support has inevitably been diminished.

The government has come under fire for imposing what has been described as a “green stealth tax” in the spending review.

The response of the business community to the spending review was largely positive, acknowledging the requirement to tackle the budget deficit.

In many ways the spending reductions made by the Chancellor were largely anticipated. The size of the current deficit has grown to over £160 billion this year and it was acknowledged by most that decisive action needed to be taken in order to head off a deeper deficit problem in years to come.

The Chancellor, George Osborne stood up in the House Commons to detail the largest series of public spending cuts seen in decades.

Syndicate content