Two-thirds of financial services players believe the Government Spending Review is good news for the UK economy, a Chartered Institute for Securities & Investment (CISI) survey shows.
Of respondents, 14% believe the impact of the review, which will cut £81bn from public spending over four years to tackle the UK budget deficit, will be strongly positive. A further 52% think the effect will, on balance, be positive.
However 34% say it will harm the country, with 10% of those concerned that the result will be strongly negative.
One contributor commented: “It has to happen in order to get ourselves out of this mess. In ten years the country will be far better for it.” Another said: “Interest payments of £120m per day? Whether the impact is positive or negative, failing to cut costs is not an option.”
However, a further respondent warned: “It’s too little, too late.”
To take part in the latest CISI survey, visit cisi.org