No let up for small businesses

Many individuals including myself were disappointed with the Pre Budget delivery yesterday. I had hoped that the chancellor would have grasped the nettle and addressed the burning subjects such as the current poor state of the national finances, Public sector Pay, Helping small businesses, encouraging saving and investing and getting the banks to be realistic about lending to businesses. Like most individuals I agree that we need to have a combination of tax increases combined with spending cuts. The old line of reasoning from the government is that instant spending cuts would damage business and hamper the recovery. My view is that although wholesale immediate cuts could cause a problem, the timescales suggested are just too slow. It seems that the Chancellor is just fiddling around the edges of reform and does not want to tilt the boat too much prior to an election. The effect of increasing public borrowing can be seen when you look at the Irish Economic System. The once Celtic tiger has had its claws taken out. Actual cuts in earnings are a realism along with drastic measures to reduce public borrowing. I nearly gagged on my tea last night, whilst watching the six o clock news. Public sector employees were whinning about a cap on salary increases of 1%. I would much rather be it that situation, as opposed to working for the Public sectors in Eire. Many small business organisations have actually taken pay cuts in the last year, due to the recession. We offer a small business advice service to our customers on a daily basis. I would have loved to see a more fundamental approach to supporting small businesses as they are an important part of the economy.