News
ICAEW want public deficit to top the pre-budget report
24 November, 2009
The Institute of Chartered Accountants have called for the Chancellor to reform the management of public spending in next month’s Pre-Budget Report.
They believe that tackling how public fiscal sector finances are administered will be critical in reducing the country’s deficit, reported to be £800m.
Michael Izza, chief executive of the ICAEW, has said that all future policy decisions will be taken in the context of a huge hole in the public sector purse which will take decades to mend. While political views will differ on cuts that will need to be made, the chancellor should focus on how the public sector is managed when tackling the country’s massive debt.