Phillip King, Chief Executive of the ICM says that the Government is clearly doing what is necessary, but the challenge is how it is executed. The next couple of years will be tougher than people have appreciated, he says. Kevin Green, Chief Executive, believes the private sector will need to grow jobs as the public sector sheds them. The planned rise in National Insurance (NI) Contributions would have simply added cost onto hiring temporary staff, he says. The reduction in the rates of corporation tax and small business tax will also make Britain a more attractive place to do business, bringing new jobs to the economy. Tony Greenham, head of Business and Finance program at The New Economics Foundation, welcomes the waiver of NI contributions from new businesses. Manchester based Debt Advisory Line, one of the UK'S leading providers of consumer debt advice, is receiving record numbers of calls from those facing financial difficulty as a result of the bloodbath budget.
Bleak house Anonymous Credit Management; Aug 2010; Docstoc pg. 18 Reproduced with permission of the copyright owner. Further reprod
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