Business

CHAMBER NEWS - TIMES ARE STILL TOUGH FOR MANY - WHATEVER THE BUDGET BRINGS

23 April 2009

With the Budget recently announced, the Chamber will be providing a full analysis of how it really affects businesses in Southwark - myth busting on the spin, or was it a lot of large headlines to take our eyes off the obvious, such as where has the money gone?

What we can say now is that the banks continue to insult businesses by still charging high rates of interest for access to our own money and yet still no real challenge from the Government to instruct them to stop re-captilising at our expense. Whilst we have highly paid, pension proof officials saying in an almost Marie Antoinette fashion 'let them eat cake', according to Tesco we must be dining on caviar, according to their recent results.

We must still be all very mindful about what has happened over the last twelve months and that there still a large number of institutions to be brought to book for the enormous errors that they made, or shall we in our usual patient and very anglicised view of life be kind and forgiving - we shall see.

Meanwhile, back on the high street, more shop fronts are shuttered and parts of Southwark are beginning to look the old towns of the cowboy west and as the dust settles on them and weeds start growing on the street, the reality is that times are still tough for many and it will be interesting to see how the unemployment figures - which are a real measure of economic trouble - are massaged, to make it look that it is not as bad it really.

Sadly the Chamber predicted over two million unemployed by June, with a probable three million by year end; which ever way you look at it, even one is too many.

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