Worsening public finances emphasise need for credible medium-term plan
21/05/09 | 10:39
Commenting on the official public finance figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:
“The worsening UK public finances, although not surprising in view of the severe recession, emphasises the difficult long-term problems facing the country.
“Despite the poor figures, it would be wrong for the government to engage in any fiscal tightening while the recession continues. However, to maintain Britain’s international credibility, it is important the government presents a more convincing medium-term plan that persuades financial markets that the public finances will be brought under control.”
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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.