Firm action needed over public finances
18/06/09 | 11:01
Commenting on the public sector borrowing figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:
“Borrowing at nearly £20 billion in May emphasises the dire state of Britain’s budgetary position. Clearly, it is imperative to take firm action to bring the situation under control over the medium-term.
“Timing is of the essence. Withdrawing the fiscal stimulus too early increases the danger of making the recession worse, with further damaging consequences for our public finances.”
Ends
Media Contact:
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.