While Chancellor George Osborne recently called his proposed spending cuts ‘fair and progressive’, there is clear dissent with the poll swinging between a majority vote for yes and no over the course of the past week.
However, in the end the ayes had it, with 50% of readers believing that the austerity measures will be effective by the end of the government’s five-year term, while 45% said the plans will not pull the economy back.
The remaining 5% were unconvinced either way about the efficacy of the proposals.
David Sheppard, managing director of Perception Finance, believes the proposals will work: “The economy will look very different in five years time and the austerity measures will not last forever as the economy allows for it and unemployment reduces. It’s a necessary plan that any government would need to do.
“People who do not believe it will work are looking very short-term and not considering how long five years is in an economic cycle.”
This week’s question asks: The Office of Fair Trading has launched a confidential survey to find out how small business owners are being treated by the major lenders. Have you experienced any credit problems with your bank in the last 12 months?
