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Wednesday, 20 October 2010

Comprehensive Spending Review

Reacting to Chancellor George Osborne’s Comprehensive Spending Review announcement today, Dr Brian Sloan, Head of Business and Economic Policy at Greater Manchester Chamber of Commerce, said: “Whilst the Chancellor’s speech ends weeks of speculation, there is still a lack of clarity as to how the cuts will translate from Whitehall to the town halls and on to the business community.

“Of the Chancellor’s three themes, the announcements relating to growth are the most important to our region. These hit some of our key campaign areas, such as rail transport and investment in the low carbon economy.

“Over the coming weeks the Chamber will be watching local developments closely and listening to our members to assess what these cuts will mean for the Greater Manchester business community. What is encouraging is that this hopefully will end this prolonged period of uncertainty and businesses can plan for the future. Although the environment will be challenging and our latest Quarterly Economic Survey shows that growth is slowing both nationally and in the North West, there will still be plenty of opportunity for ambitious businesses that want to grow.

“We are in a period where the economy is being rebalanced. First and foremost we must support our members, be they small businesses needing finance to grow or large international businesses."

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