Government and Alistair Darling Fail Small and Medium Sized Firms Time after Time
Many employers including myself were angry with the Pre Budget announcement .
I had wished that the Current Government would have provided supprt and started to address the crucial problems such as the on-going poor state of the public finances, Public sector earnings, supporting small businesses, encouraging saving and investments and the banks to be practical about lending to business organisations.
Like most business owners I concur that we need to have a combined approach of tax increases in addition to expenditure cuts.
The old line from New Labour is that instant cuts in spending would hurt our economy and handicap the recovery. My thought is that although sweeping immediate cuts could cause a problem with the recovery, the timescales proposed is just a little too late.
It seems that the Chancellor is just fiddling around the edges of any reform and does not want to sway the boat too much prior to an election.
The result of increasing public borrowing can be seen when you look at the Eire Economic State of affairs. The once Celtic tiger has had its claws extracted. Present-day cuts in pay are a realism along with bruising measures to cut back public borrowing.
I almost choked on my dinner on wednesday, whilst watching the six o clock news. Public sector representatives were complaining about a ceiling on salary increments of 1%.
I would much rather be in that situation, as opposed to being employed for the Public sector in Ireland.
Many small business directors have actually taken pay cuts in the last year, due to the UK recession and slowdown.
As Financial Advisers we offer a Small Business Advice service to our customers on a day-to-day basis. I would have opted to see a more radical approach to helping SME businesses as they are an essential part of the economy.
Tags:Advice for Directors, Finance, Independent Financial Advice, small companies, SME