Safety Signs News

Spending review outline

21st October 2010 | Warning Signs, Office Signs, No Smoking Signs, Health and Safety Signs, Fire Signs, Door Signs, Construction Signs

Posted by Nicole Stevens.

The procurement and installation of health and safety signage could be affected after the coalition government yesterday outlined its Comprehensive Spending Review that will resolve the structural deficit by 2015.

Chancellor George Osborne addressed a packed Commons chamber to detail what his shadow counterpart, Alan Johnson, called the deepest cuts "in public expenditure that have taken place in living memory".

The government's four-year plan will slash a total of £81 billion from public spending budgets, with public sector jobs, welfare, and police funding particularly hard hit. However, the schools budget for England will be ring-fenced, with extra money for social care.

With an average 19 per cent cut in allocations, the departments of business and local government, with budgets of £21.2 billion and 33.6 billion respectively, will both face 7.1 per cent cuts, relatively good compared to other areas. The Department for Culture, Media and Sport, for example, will suffer a 24 per cent cut.

However, local authority revenue grants will no longer be protected, and social housing funding will be cut by 60 per cent, with high rents on the horizon. But these cuts are expected to clear the way to invest £4.4 billion into building 150,000 new homes.

Commenting on the cuts to the construction industry, Michael Ankers, chief executive of the Construction Products Association, said: "We knew this was going to be a difficult Review as far as construction was concerned. However, the chancellor has acknowledged the important role that capital spending on construction can play in helping to provide for a private sector-led economic recovery."ADNFCR-2754-ID-800133765-ADNFCR


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