Editor's Comment: Brace yourself for the Budget

The cuts announced by Chancellor George Osborne are the start of many, inflation appears on the high side, the eurozone debt crisis has still to be resolved and there are doubts over the sustainability of the rapid rise in property prices in China. The economy is still heavily reliant on confidence in the banking system and the uptake of loans, while if there is another crisis such as in Greece then borrowing costs could rise further and appetite for debt could dwindle.

If you are a broker and dealing heavily with public-private partnerships then it is time to start thinking about alternative growth prospects and to examine closely which projects could be affected. Economists say that the Chancellor's recent cuts represent just one-tenth of what is needed and there is bound to be an impact on the private sector as outsourcing companies take a hit.

Emergency Budget
The government's emergency Budget on 22 June is going to prove another defining moment for the economy, especially with the possibility of capital gains tax and VAT both rising. These are strange times as we slowly and painfully try to reassert fiscal responsibility across our public finances, so now is the time to stay even closer to your clients and make sure that you are first on their contact list for when they need a trusted, professional adviser.

• Don't forget that the deadline for entries for the UK Broker Awards is 18 June at 17:00. This year's awards include Business Owner of the Year, Network Member of the Year and Broker Manager of the Year. If you have something to shout about then log on to www.ukbrokerawards.com for more details.

Source: PB – June 2010