Member Article

Businesses want end to ring-fenced public spending

Business leaders want to see an end to ring-fencing within public spending, according to a survey of the Institute of Directors’ (IoD) members.

52.3% of members said they disagreed with government budget protection across health, schools and international aid.

Graeme Leach, chief economist at the IoD, said: “There is a clear appetite among businesses for the Chancellor to abandon the policy of ring-fencing some budgets against any cuts at all - it is time for all spending to be examined in full to find ways to save money.”

When quizzed on UK economic performance, the members were pessimistic as only 1.4% though growth would be higher than predicted.

Just 3% of members thought the Budget would be positive for their organisation, and most sat in the middle, believing it to be neither positive nor negative.

This was posted in Bdaily's Members' News section by Tom Keighley .