Budget must provide credible medium-term plan for curbing deficit
19/03/09 | 10:40
Commenting on the UK’s February public finance figures, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:
"The sharp deterioration in the budgetary position, unless vigorously addressed, poses serious risks to Britain’s international standing and credit rating.
“Since the government cannot cut the deficit before the recession ends, it is vital that next month’s Budget outlines a credible plan for reducing debt and borrowing over the medium-term.
“By putting more emphasis on abolishing or suspending onerous labour market regulations, the government could support jobs without adding to the deficit.”
Ends
Media Contacts:
Fiona Cunningham
Tel: 020 7654 5812
Email: f.cunningham@britishchambers.org.uk
OR
Sam Turvey
Tel: 020 7654 5813
Email: s.turvey@britishchambers.org.uk
Notes to Editors:
The British Chambers of Commerce (BCC) is the National Voice of Local Business.
The BCC sits at the heart of a powerful nationwide network of Accredited Chambers of Commerce serving business across the UK, which employ over five million people.