When will we see the first public sector investment cuts?
Despite the fact that the UK government has yet to clarify exact plans regarding public sector investment cuts it is likely we will see the first of many changes in the weeks ahead. As the Bank of England suggested earlier this week, there is a need to attack the UK budget deficit as soon as possible to improve UK finances and also head off any possible reduction in the U.K.'s triple-A credit rating.
David Cameron is very keen to attack the budget deficit sooner rather than later even if he has been forced to water down some of his earlier plans to gain Liberal Democrat support. Indeed it is rumoured that Vince Cable refused to take on a position at the Treasury for fear of being marked down as the man who introduced massive cuts to the UK public sector. Whether this is true or not is debatable but there is no doubt that no one person will be looking to become the face of public sector cuts in the UK.
Finding a balance between economic recovery and reducing the UK budget deficit will be a challenge for anybody and with George Osborne having relatively little experience in this field there are some who doubt his credentials for the job.
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