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Friday, 22 October 2010

The spending cuts.

I haven't blogged on this subject until now as so much is being said, but for what it is worth here we go.

The deficit has to be dealt with and a strong message needs to be sent out to the markets that we can manage our money better than our competitors.

Having said that, constant talk of huge job cuts in the public sector does not help matters. 500,000 jobs lost/cut does not mean the same as 500,000 people being made redundant. No wonder high street sales saw such a big fall in spending in September! Many jobs will be "lost" or "cut" in that the Government will not re-hire for roles after someone has left and vacancies will be scaled back.

Consumer sentiment is vital for our growth and the government must be careful with its rhetoric otherwise growth will be curtailed. Cutting is the easy part, growing the economy to create new jobs is the hard bit!

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