Briefing note: Budget 2010

Briefing note: Budget 2010
Document type
Haldenby, Andrew Nolan, Dr Patrick Parsons, Lucy Seddon, Nick
Date of publication
22 March 2010
Trends: economic, social and technology trends affecting business
Business and management
Material type

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In all countries, public spending is very largely composed of benefit payments and public services. Of public services, the great majority of the costs is labour. The Chancellor needs to announce policies to reduce benefit payments by restricting eligibility and encouraging employment and wage growth. He needs to announce policies to reduce public sector labour costs through wage cuts, reductions in headcount and reforms to public sector pensions. The other heavily indebted countries in the EU – Portugal, Ireland, Greece and Spain – show what the UK has to do.

This brief note goes into acute detail on how UK public spending ought to be reduced across various public spending sectors.

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