CSR: Government ignores impact on lending
Mark Blackwell, managing director of xit2, said: “Despite what she said at conference in 1981, Maggie will definitely be turning – red with fury.
“Traditionally, Tory governments have emphasised the importance of wealth creation and home ownership with incentives to match. But the Tory-led coalition is treating homeowners, shareholders, and tenants like Cowell and his cronies are treating Wagner – less than important and soon to be discarded.
“A lot of impacts will have been factored in already – the bookings for Tossa de Mar will be well down next summer.
“But the government doesn’t appear to have taken seriously the impact on lending.
“Cuts on this scale are no good unless there are incentives in place to encourage growth.
“From a lending and homeownership perspective these are seriously lacking and it’s a grave concern for the economy as a whole.”