The picture gets worse if George Osborne continues to insist that the MoD, already facing cuts of 10 to 20 per cent as part of the comprehensive spending review, has to slash conventional weapons’ programmes to pay for Trident. We could then be talking about losing thousands more jobs than the initial 13,000 – that figure will be dwarfed as the axe falls.
Balancing the books is a good thing for every business, and the Government is no different in this regard, but let us hope that the Chancellor has recognised the ripple effect that will ensue from public expenditure cutbacks, and the savings more than offset the costs to the country of business failures and consequent job losses’ impact upon the Benefits budget.
The Insolvency Service has swung the axe on 50 front line official receiver investigators in a move which is “tantamount to legalising corporate theft”, according to sources.
The report estimates £69.5bn is owed to creditors from the 127,000 companies in financial difficulty in the second quarter.
This is the first budget from the coalition Government; George Osborne has issued the toughest budget in a century outlining the Governments plans to balance the books of this country and to get Britain back to work.
How has this budget affected you? Comments welcome.
