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CSR 2010: Turner & Townsend chief disappointed at cuts

Consultancy Turner & Townsend has expressed disappointment at capital spending cuts announced in the Comprehensive Spending Review.

Chancellor George Osborne announced that capital spending would fall from £68.7bn in 2009/10 to £47.2bn in 2014/15.

Turner & Townsend director David Mathieson said: “It is disappointing that he has not really changed his capital spending commitments from where they were in the June budget. 

“Capital spending is a relatively cheap way to support and drive the economy, particularly construction which represents about 8 per cent of GDP. A modest increase in capital spend would bring significant returns in growth and tax take.”