Serial entrepreneur and Dragons' Den Judge James Caan has given his backing to George Osborne's comprehensive spending review.
"Nobody likes to see spending cuts but the government has to make savings just as every businessman has to. Reducing costs is crucial and should always be looked at - in good and bad times. I believe the economy will grow and our businesses will be fitter, leaner and able to capitalise when it does," said Mr Caan.
"By cutting business rates and supporting new green business the Chancellor is trying to encourage the economy to grow
Unveiling his spending review Mr Osborne cut an average of 20% from the budgets of Whitehall departments - £83bn in total. It had been projected that he would have to cut unprotected departments by 25%.
The CEO of Hamilton Bradshaw also applauded the Chancellors decision to protect investment in Britain's infrastructure, which he believes, "is vital for our business health."
The Chancellor announced that £30bn would be spent on transport projects over the next four years. This includes £14bn on new rail maintenance projects.
"By cutting business rates and supporting new green business the Chancellor is trying to encourage the economy to grow. I also support the addition of 75,000 more adult apprenticeships."
To read an exclusive column written by James for New Business please click here
