Posts by Tony Caldeira
Following months of speculation, anticipation and in some cases dread, the Comprehensive Spending Review (CSR) will finally be delivered by Chancellor George Osborne today.
Now I must declare an interest at this point. As well as owning my manufacturing businesses, I am also the Chairman of the City of Liverpool Conservatives and a strong supporter of both David Cameron and George Osborne.
Therefore, like the vast majority of business people, I agree that Britain needs to balance its books over the medium term and that any country must live within its means. I also believe that delaying reducing the deficit poses a far greater long term risk to the British economy than taking the necessary corrective action.
However, for the regions manufacturers, especially those supplying the public sector, there is going to be some short term pain.
Our region's economy is over dependent on the public sector and will suffer in the short term as a result. There will be fewer public sector contracts and reduced overall demand from people who work either directly or indirectly for the government and its agencies.
But there are also positives for manufacturers once the initial pain has subsided.
There will be new opportunities in the private sector and chances for private companies to win government outsourcing contracts. There will also be opportunities for manufacturers to hire high quality people who once worked in the public sector and will unfortunately lose their jobs.
Most importantly, there is a huge opportunity for our region. We have a chance to end our dependency on the public sector and to rebalance our local economy.
If this can be achieved, with more private sector activity and with more manufacturing in particular, Merseyside will become more prosperous place with a more balanced economy.
The long term gain will be worth the short term pain.