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CBI backs welfare cuts

The Confederation of British Industry (CBI) has today come out in support of the UK government and plans to cut welfare and social spending in the UK. This is a very controversial area of proposed budget cuts and has prompted unions around the UK to announce significant strike action which could effectively paralyze the UK in the future. So why is the CBI backing the UK government?

The CBI believes that the UK government should prioritise areas of the UK economy which can improve growth prospects for the future. With this in mind a reduction in welfare and social spending should in theory leave more money to invest in the UK economy which should ultimately impact on the UK employment market and improve prospects in this area.

While the support of the CBI will be welcomed by the UK government there is no doubt that David Cameron and his coalition partners have a massive battle on their hands to maintain control of the UK public sector budget. This is an area of expenditure which has mushroomed over the last decade building a monster which will not die overnight. In many ways we are back to the 1980s when former Conservative leader Margaret Thatcher took on the unions and effectively crushed them.

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