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CBI criticises UK government over the budget deficit

The CBI has this evening called for the UK government to tackle the record £175 million budget deficit forecast for 2009. There are serious concerns within the CBI, and the International Monetary Fund (IMF), that the UK recovery is at significant risk because of the ever increasing national debt and budget deficit.

Again we are hearing calls for significant cuts across the public sector, reductions in the public sector pension liabilities and a general increase in efficiency savings. This led to Gordon Brown experiencing something of a rocky ride tonight at the CBI event with suggestions that the government's growth forecasts for 2009, 2010 and 2011 were optimistic at best and out of touch at worst. There is a growing concern that politics, and in particular the 2010 general election, is taking precedence over the UK economy and impacting upon the UK consumer.

As we have mentioned on a number of occasions, the ongoing MPs expenses debacle has somewhat taken the governments focus off the UK economy with more and more businesses struggling and many going under. While Gordon Brown quite rightly commented that the UK authorities have invested significant monies into the UK economy it is the demand for more efficiency savings in the public sector which is bearing the brunt of criticism from business leaders.

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