Public deficit should be top of PBR list
A large scale reform of public sector spending will be critical in reducing the UK’s reported £800m deficit in next month’s Pre-Budget Report, says the ICAEW.
“All future policy decisions will be taken in the context of a huge hole in the public sector purse which will take decades to mend. While political views will differ on cuts that will need to be made, the chancellor should focus on how the public sector is managed when tackling the country’s massive debt”, said Michael Izza, chief executive of the ICAEW.
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