East Midlands business leaders have urged Chancellor Jeremy Hunt to follow through on his plan to rebuild the economy and help business with one accusing his autumn statement of being “low on wealth-creation”.
As the OBR slashed its forecast for economic growth and inflation hits a 40 year high of 11.1 per cent, the Chancellor is in the desperate situation of trying to balance the books without alienating voters or pushing the UK further into recession.
With many businesses already thinking twice before investing in capital or workers, he warned the country faced growing unemployment as he set out a package of £30 billion in spending cuts and £24 billion in tax rises over the coming five years.
