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The Association for Consultancy and Engineering (ACE) reacted with caution to today’s announcement of Government spending cuts. Around £10 billion of spending commitments made sine 1 January 2010 have been postponed or cancelled.
ACE believes that the priority for the Government should be to address the budget deficit while ensuring that key national infrastructure is invested in, so that the UK’s economic, environmental and social needs are met. This requires a coordinated approach, including clear and consistent principles of investment, in order to give confidence to the private sector. ACE has made this point in its Budget submissions to the Treasury and a recent proposal for a balanced scorecard approach to public spending.
Nelson Ogunshakin, ACE chief executive, said: “ACE recognises the need to bring public finances into order. However, we must ensure that spending decisions are made with reference to the wider needs of the UK. It is vitally important that the right decisions are made, particularly with a major spending review due this October. Every pound invested must be well spent.”
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For media enquiries please contact Michael Hall (020 7202 0256) (mhall@acenet.co.uk).
Notes to editors
To read ACE’s report on a balanced scorecard approach to public spending, please click here.
To read ACE’s submission to the Treasury ahead of the forthcoming Budget, please click here.
Around £2 billion of spending commitments made since 1 January 2010 have been cancelled. These include the £450 million North Tees and Hartlepool Hospital project and an £80 million loan to nuclear sector suppliers Sheffield Forgemasters. The new visitor centre at Stonehenge will also not go ahead.
A further £8.5 billion of spending has also been put on hold, including the A14 Ellington to Fen Ditton upgrade worth £1.1 billion. The new Birmingham Magistrates Court building – a £94 million project – will also be delayed, as will £25 million of funding for the Kent Thameside Strategic Transport programme.
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