Loans and Finance

Loans and Finance

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News and information about loans, money, debt, finance and business issues.

Monday, July 05, 2010

Cuts

The Chancellor, George Osborne, is using zero based budgeting to reset the country's battered finances.

He has ordered a purge of capital spending, and review of every single capital expenditure project, to run alongside the annual expenditure cuts demanded of every department of between 25% and 40%.

It is likely that the 40% target is being used as an exercise to "scare the chickens" into grudgingly rolling over and accepting 25% cuts.

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