Brookson sees opportunity in chancellor’s spending cuts

Martin Hesketh, managing director of Brookson provides an upbeat analysis of wednesday’s announcements

“Planned cuts to governmental departments including energy and climate change (18 per cent over the next four years), transport (21 per cent), culture, media and sport (24 per cent) and defence (7.5 per cent) may pose more of an opportunity rather than a threat for contractors.

“In a nutshell, a government department wishing to tighten its purse strings will inevitably turn to making job losses for permanent members of staff.  Contractors provide unrivalled benefits to a department head wanting to manage their budgets effectively.  Employing a contractor to do the job required on a “needs must” basis presents an attractive option over a full-time employee.

“Also, there is good news for contractors based in the transport sector with a proposed investment of £30 billion from the Government into transport projects.  Projects including the Mersey Gateway Bridge, Network Rail, Cross Rail, East and West Coast main lines and the London Underground network could provide fruitful opportunities for the contractors in that area.”

“We anticipate this spending review could lead to the potential growth in the number of contracts available for self employed professionals.  Brookson will be on hand to provide support in its position as a leading provider of specialist accountancy and financial advice for this sector.”

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Written by Editor on October 22, 2010 and filed in Entrepreneurs, Featured, Money, News, Opinion , ,

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