Bosses including Charles Dunstone (Carphone Warehouse), Robert Bensoussan (L.K. Bennett), Ruby McGregor-Smith (MITIE), Sir Stuart Rose (M&S) and Simon Wolfson (Next) wrote to the Daily Telegraph to express their support of George Osborne’s spending cuts.“It has been suggested that the deficit reduction programme set out by George Osborne in his emergency Budget should be watered down and spread over more than one parliament. We believe that this would be a mistake,” they wrote. “The private sector should be more than capable of generating additional jobs to replace those lost in the public sector, and redeployment of people to more productive activities will improve economic performance, so generating more employment opportunities. “We would encourage George Osborne and the government to press ahead with his plans to reduce the deficit. In the long run it will deliver a healthier and more stable economy.” Coming from the leaders of some of Britain’s bellwether businesses, the letter is a big boost for George Osborne. George Osborne has come under public scrutiny over the cuts, with Labour and the unions saying the cuts risk tipping Britain back into another recession. What’s your view? Do you support George Osborne’s deficit reduction strategy?
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