Budget Day: Now is time for action say business chiefs (From Daily Echo)
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Business chiefs call for action from Chancellor George Osborne
8:31am Wednesday 20th March 2013 in News
By Patrick Knox, Senior Reporter
Chancellor George osborne
TODAY IS D-Day for struggling households and businesses in Hampshire as the Chancellor of the Exchequer spells out the most crucial budget since the Second World War.
Businesses and politicians in Hampshire will be on tenterhooks as George Osborne opens his big red box to reveal plans to dig the country out of its financial hole and reignite the clapped out economy.
The UK is teetering on the brink of a triple-dip recession and the country’s once-cherished AAA credit rating has been lost.
Hundreds of jobs have already been shed from the county’s economy in the past year alone at big name companies such as B&Q British Gas, Skandia, Zurich and Ford.
Budget Day live: Follow the Budget as it happens with reaction here at dailyecho.co.uk
Some 230 jobs have been axed at beleaguered Southampton City Council this year as it cuts key services to plug a £16m black hole that opened up thanks to massive Government cuts.
Southampton City Council leader Richard Williams said Mr Osborne’s budget would impact on jobs and services and the quality of life across Hampshire.
He said: “A lot of people are unemployed and we are seeing high street chains struggling with some going into administration and there will be the loss of Ford this summer. There is a lot of risk in the economy and it is not really picking up.
“We need sensible investment. We have got to create apprenticeships and construction is really important. We need investment in infrastructure. But I can’t say I am overly optimistic.”
Tony Knight, of the Hampshire Chamber of Commerce Tax Finance and Legal Committee, said: “My view is that the economy is on the cusp – it could quite easily move forward but could also be derailed by external influences especially those from the Eurozone.”
Budget Day live: Follow the Budget as it happens with reaction here at dailyecho.co.uk
He said he hoped today would see measures unveiled that helps lift the economy from its vulnerable position.
“I have long believed that any Chancellor has the means to stimulate the economy by removing stamp duty on properties up to £500,000.
“If necessary, the so called mansion tax could be introduced at increased rates over £1milion,” he said.
Comments(4)
Paramjit Bahia
says...
10:20am Wed 20 Mar 13
BUT what they will get remains to be seen.
My guess? Those who already have too much will be looked after and those who created the mess will be praised or mitigated for AND us the ordinary people will be asked to pay even more for their follies.
As usual Lib-Dems will be making false claims while trying to claim credit for anything this government may have done right (I can’t think of any) while lying through their teeth about their own part.
NuLabour will have opportunity to blame everything on the Tories, while staying silent on how they contributed to the creation of economic crisis while enthusiastically implementing Tory policies for 13 years.
Yes what used to be Great Britain is far from 'Great' anymore, cause of it is the same failed policies of all main political parties, which have virtually the same ideology dictated by leaders of our political class who have hardly anything in common with British masses and live in a world of their own.
WHY?........ Because collectively we are all responsible for electing them. So should we not be thinking carefully before putting that cross on a piece of paper?
Torchie1
says...
11:28am Wed 20 Mar 13
Paramjit Bahia wrote:The option of escaping all of the above was explained in detail to the 79004 voters of Eastleigh and it only appealed to 62 of them. I think that you grossly underestimate the intelligence of the electorate who are clearly not happy with the current situation but in their hearts they know it's the only way forward. You are like the old time quack doctor standing outside a hospital offering a pain free alternative to the operation that the patient knows is necessary for their survival.
Business bosses are not the only people who want good news from Chancellor’s budget today, everybody wants something.
BUT what they will get remains to be seen.
My guess? Those who already have too much will be looked after and those who created the mess will be praised or mitigated for AND us the ordinary people will be asked to pay even more for their follies.
As usual Lib-Dems will be making false claims while trying to claim credit for anything this government may have done right (I can’t think of any) while lying through their teeth about their own part.
NuLabour will have opportunity to blame everything on the Tories, while staying silent on how they contributed to the creation of economic crisis while enthusiastically implementing Tory policies for 13 years.
Yes what used to be Great Britain is far from 'Great' anymore, cause of it is the same failed policies of all main political parties, which have virtually the same ideology dictated by leaders of our political class who have hardly anything in common with British masses and live in a world of their own.
WHY?........ Because collectively we are all responsible for electing them. So should we not be thinking carefully before putting that cross on a piece of paper?
bernard7
says...
1:41pm Wed 20 Mar 13
St Retford says...
10:00am Wed 20 Mar 13
Mr Osborne is a mediocre man in a powerful position at a time in which the country needs bold visionaries.