IoD response to latest public sector finance figures

Dated: 18 November 2010

Commenting on today’s figures, which show a deterioration in public sector finances, Graeme Leach, Chief Economist at the Institute of Directors, said:

“It’s too early to say whether or not today’s public finance figures mean the deficit will overshoot the Office of Budget Responsibility’s projections for 2010-11. However there is a very real risk the deficit will overshoot, especially if GDP growth underperforms in the first quarter of next year. We may then be faced with the Chancellor having to revisit spending cuts and tax hikes in the March Budget. Let’s hope not.”

ENDS

Contact Points

Edwin Morgan
Media Relations Manager
Institute of Directors, 116 Pall Mall, London SW1Y 5ED
Tel: +44 (0)20 7451 3392
Mob: +44 (0)7814 386 243
Email: edwin.morgan@iod.com
Website: www.iod.com/policy

Notes to editors

  • The IoD (Institute of Directors) was founded in 1903 and obtained a Royal Charter in 1906. The IoD is a non-party political organisation with upwards of 45,000 members in the United Kingdom and overseas. Membership includes directors from right across the business spectrum – from media to manufacturing, e-business to the public and voluntary sectors. Members include CEOs of large corporations as well as entrepreneurial directors of start-up companies.
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