Mass Scrapping of Public Projects Causes Seller Woe
Spare a thought for the many salesmen and women who are watching helplessly as anticipated commission cheques and purchase orders vanish as the new UK government reigns in public spending to the amount of a reported 10.5 billion of projects announced in the dying days of the outgoing administration.
The cutbacks detailed in The Guardian
will result in the wholesale freezing or scrapping of projects in areas ranging from swimming pools to visitor centers and from hospitals and helicopters. Notably some of those projects closest to the previous Prime Minister have been affected.
Faced with a defecit of 156 bn, the new government is balancing a tightrope between cutting an unsustainable level of borrowing and dampening the fragile recovery in the UK economy, All those either directly or indirectly selling to the UK public sector will also be walking a tightrope of their very own.