Newspaper article Evening Gazette (Middlesbrough, England)

Cash Cow May Be Running Dry

Newspaper article Evening Gazette (Middlesbrough, England)

Cash Cow May Be Running Dry

Article excerpt

TEES Valley businesses which have been sustained by maintained spending in the public sector during the recession were given their clearest indication yet that the Government's cash cow was running dry.

In a keynote speech to business leaders yesterday, Chancellor Alistair Darling said the Government "would not flinch" from taking hard decisions as it reined in the UK's massive deficit, largely inflated by huge amounts of public money being pumped into the economy.

Among those to have benefited from accelerated, public projects have been Balfour Beatty and Amec, both of which employ significant numbers locally.

The Chancellor's comments, in a speech to an audience of business leaders in Cardiff, were seen as paving the way for public sector spending cuts expected to be outlined in the Pre-Budget Report this autumn. Mr Darling stopped short of announcing what services are likely to be cut, but made clear that not even the NHS would escape.

Nearly one in four people is employed in the public sector in the North-east - the highest in England. …

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