Qualified advisers answering your
Financial Questions
call 0800 092 1245

CBI puts pressure on UK government to balance the books

The CBI has called upon the government to work towards balancing the budget by 2015 as opposed to a 2017 target date which was recently announced. It is no secret that the UK budget will be in deficit to at least £175 billion this year and is set to rise in the foreseeable future before turning down. However, without serious attention the budget will not be back into surplus, or at least balanced, for many years to come.

As a consequence the CBI believes that the UK government's target of 2017 is 2 years too long and has suggested these figures are reviewed. However, when you consider that national debt in the UK continues to rise (as do interest payments), tax income has been decimated over the last two years and UK government has substantial money tied up in the banking sector, it may take some time before pressure on the budget can be reduced.

Despite what many politicians may have you believe, UK public services are set to be the main target of cost saving initiatives in the short, medium and longer term, leaving open Gordon Brown's massive investment over the last decade. Whichever government gains office at the next general election will dictate which particular areas of the economy and public services will be targeted.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details