Today, Chancellor George Osborne announced cuts of £11.5bn to Government departments in 2015/16 and our reaction has been reported by multiple sources:
George Osborne said today that Government spending does not produce sustainable growth, enterprise does. This is true but enterprise needs help and encouragement and whilst there were positive announcements around transport and apprenticeships I saw few signs of an overall vision for UK enterprise in today’s speech.
Hill points out that the £10 billion Local Enterprise funding over the next Parliament is ‘significantly’ lower than the recommendations made by Lord Heseltine’s No Stone Unturned report.
“Innovation and entrepreneurship are hugely important to the future growth and development of the UK economy, yet there will be just £10bn Local Enterprise funding over the next parliament, significantly lower than the recent recommendations in Lord Heseltine’s ‘No Stone Unturned’ review”
Click on each of the logos or the link listed below to see Simon Hill’s comments on George Osborne’s spending review.