Monday, October 18, 2010

Named - The 35 Business Leaders That Back Osborne's Cuts!

Not even half of the business leaders that backed George Osborne's cuts are the same people that signed Osborne's national insurance round robin letter. (approximately 82 signed the national insurance letter)
Out of the people who did sign, virtually all these people stand to gain something out of the Tory government and many are Tory party financial donors. Some of them have been made Knights of the Realm and Lords and some will be made Knights or Lords in the future while others stand to gain financially from the cuts the Tory Coalition government are making, from the dismantling of the NHS and the selling large lucrative parts of it off to private companies.

I wonder why the majority of the people that signed the national insurance letter appear not to have wanted to sign this new letter backing cuts? Just look at the companies of signatories that are missing, these are the companies that stand to be hit by these cuts!
Some of these signatories are conspicuous by their absence!

If Osborne, Clegg and Cameron are so sure that their cuts are correct for the economy, then why did they seek out the support of these business leaders? It is like running to daddy for approval.
The Letter

SIR – It has been suggested that the deficit reduction programme set out by George Osborne in his emergency Budget should be watered down and spread over more than one parliament. We believe that this would be a mistake.
Addressing the debt problem in a decisive way will improve business and consumer confidence. Reducing the deficit more slowly would mean additional borrowing every year, higher national debt, and therefore higher spending on interest payments.
The cost of delay would result in almost £100 billion of additional national debt by the end of this parliament alone. In the end, the result would be deeper cuts, or further tax rises, in order to pay for the extra debt interest.
The cost of delay could be even greater than this. As recent events in some European countries have demonstrated, if the markets lose faith in Britain, interest rates will rise for all of us.
There is no reason to think that the pace of consolidation envisaged in the Budget will undermine the recovery.
The private sector should be more than capable of generating additional jobs to replace those lost in the public sector, and the redeployment of people to more productive activities will improve economic performance, so generating more employment opportunities.
So, each writing in our personal capacity, we would encourage George Osborne and the Government to press ahead with his plans to reduce the deficit.
In the long run it will deliver a healthier and more stable economy.
The Signatories
  1. Will Adderley CEO, ~ Dunelm Group
  2. Robert Bensoussan  ~ Chairman, L.K. Bennett
  3. Andy Bond ~ Chairman, ASDA
  4. Ian Cheshire ~ Chief Executive, Kingfisher
  5. Gerald Corbett ~ Chairman, SSL International,, Britvic
  6. Peter Cullum ~ Executive Chairman, Towergate
  7. Tej Dhillon ~ Chairman and CEO, Dhillon Group
  8. Philip Dilley ~ Chairman, Arup
  9. Charles Dunstone ~ Chairman, Carphone Warehouse Group Chairman, TalkTalk Telecom Group
  10. Warren East ~ CEO, ARM Holdings
  11. Gordon Frazer ~ Managing Director, Microsoft UK
  12. Sir Christopher Gent ~ Non-Executive Chairman, GlaxoSmithKline
  13. Ben Gordon ~ Chief Executive, Mothercare
  14. Anthony Habgood ~ Chairman, Whitbread ~ Chairman, Reed Elsevier
  15. Tim Steiner ~ CEO, Ocado
  16. Aidan Heavey ~ Chief Executive, Tullow Oil
  17. Neil Johnson ~ Chairman, UMEC
  18. Nick Leslau ~ Chairman, Prestbury Group
  19. Ian Livingston ~ CEO, BT Group
  20. Ruby McGregor-Smith ~ CEO, MITIE Group
  21. Rick Medlock ~ CFO, Inmarsat; Non-Executive Director, The Betting Group
  22. John Nelson ~ Chairman, Hammerson
  23. Stefano Pessina ~ Executive Chairman, Alliance Boots
  24. Nick Prest ~ Chairman, AVEVA
  25. Nick Robertson ~ CEO, ASOS
  26. Sir Stuart Rose ~ Chairman, Marks & Spencer
  27. Robert Walters  ~ CEO, Ocado
  28. Andrew Sukawaty ~ Chairman and CEO, Inmarsat
  29. Michael Turner ~ Executive Chairman, Fuller, Smith and Turner
  30. Moni Varma ~ Chairman, Veetee
  31. Paul Walker  ~ Chief Executive, Sage
  32. Paul Walsh ~ Chief Executive, Diageo
  33. Joseph Wan ~ Chief Executive, Harvey Nichols
  34. Bob Wigley ~ Chairman, Expansys, Stonehaven Associates, Yell Group
  35. Simon Wolfson ~ Chief Executive, Next  
Full List of Signatories Who Signed the Tories National Insurance Letter (During the 2010 general Election Campaign)
Sir Anthony Bamford, Chairman, JCB
Bill Bolsover, Chief Executive, Aggregate Industries
Dominic Burke, Chief Executive, Jardine Lloyd Thompson
Ian Cheshire, Chief Executive, Kingfisher plc
Neil Clifford, Chief Executive, Kurt Geiger
Mick Davis, Chief Executive, Xstrata plc
Aidan Heavey Chief Executive, Tullow Oil plc
Lord Harris of Peckham, Chairman and Chief Executive, Carpetright plc
Justin King, Chief Executive,
J Sainsbury plc
Sir Christopher Gent, Chairman, GlaxoSmithKline plc
Ben Gordon, Chief Executive, Mothercare plc
Sir Stelios Haji-Ioannou, Founder and Chairman, easyGroup
John Lovering, Chairman, Mitchells & Butlers plc
Graham Mackay, Chief Executive, SABMiller plc
Alistair McGeorge, Chief Executive, Matalan
Nicolas Moreau, Group Chief Executive, AXA UK
Stephen Murphy, Chief Executive, Virgin Group Ltd
Alan Parker, Chief Executive, Whitbread Plc
Sir Stuart Rose, Executive Chairman, Marks & Spencer plc
Paul Walsh, Chief Executive, Diageo Plc
Joseph Wan, Group Chief Executive, Harvey Nichols
Simon Wolfson, Chief Executive, Next plc
Zameer Choudrey, Chief Executive, Bestway Cash & Carry
Ron Dennis, Chairman, McLaren Group
Mark Elborne, Chief executive, GE UK
Brent Hoberman, co-founder of
Simon Fox, Chief executive, HMV Group
Richard Caring, Chairman, Soho House Group, and Caprice Group
Ted Tuppen, Chief executive, Enterprise Inns
John Griffin, founder of Addison Lee
Richard Warburton, Executive Director, Warburtons Ltd
Sir Nigel Rudd, Chairman, BAA
Paul Walker, Chief executive, Sage
Jamie Murray Wells, founder of Glasses Direct
Anya Hindmarch, handbag designer and entrepreneur
Gerald Corbett, Chairman, Britvic plc, SSL International
Philip Day, Chief executive, Edinburgh Woollen Mills
Kirby Adams, Chief Executive, Corus
Surinder Arora, Chairman, Arora International Hotels
Stefan Barden, Chief Executive, Northern Foods
Robert Bensoussan, Executive Chairman, LK Bennett
Simon Blagden, Chairman, Fujitsu Telecommunications (Europe)
Tony Brown, Chief Executive, Beales
Chris Dawson, Founder and Managing Director, The Range
Sir John Egan; Ralph Findlay, Chief Executive, Marston’s PLC
Stephen Goodyear, Chief Executive, Young & Co’s Brewery PLC
Anthony Habgood, Chairman, Reed Elsevier
Andy Harrison, Chief Executive, easyJet
Peter Harrison, Chief Executive, Furniture Village
Grant Hearn, Chief Executive, Travelodge
Peter Hindle, Chief Executive, Jewson
Neil Hornby, Chairman, Hornby plc and Umeco PLC
Luke Johnson, Founder of Risk Capital Partners and Chairman of Royal Society of Arts
John King, Chief Executive, House of Fraser
Richard Kirk, Chief Executive, The Peacock Group
Simon Lockett, Chief Executive, Premier Oil PLC
Rick Medlock, CFO, Inmarsat Plc
Mike Norris, Chief Executive, Computacenter
Tony Pidgeley, Group Chairman, Berkeley Group Holdings PLC
Jamie Ritblat, Chief Executive, Delancey
Nick Robertson, Chief Executive, ASOS
Tim Steiner, Chief Executive, Ocado
Michael Turner, Chief Executive, Fuller, Smith & Turner PLC
Tom Wells, Chairman, Charles Wells Ltd and Muntons PLC
Nick Wheeler, Founder, Charles Tyrwhitt
Bob Wigley, Chairman of Sovereign Reversions PLC
The latest business leaders to support the scrapping of the one pence in the pound increase in National Insurance are:
Mark Allen, Chief Executive, Dairy Crest Group PLC
Robert Hiscox, Chairman, Hiscox Ltd
Mark Robertshaw, Group Chief Executive, The Morgan Crucible Company PLC
David Tyler, Chairman, Logica PLC
Hossein Yassaie, Chief Executive, Imagination Technologies Group PLC
Archie Norman, Chairman, Aurigo Management Partners LLP
Charlie Mullins, Managing Direction, Pimlico Plumbers Ltd
Chrissie Rucker, Founder, The White Company
Peter Cullum, Executive Chairman, Towergate Partnership
Richard Baker, Chairman, Virgin Active PLC
James Kilbane, Chairman, Grafton Recruitment
Stephen Bourne, Chief Executive, Cambridge University Press
David Cam, Director, Blackpool Pleasure Beach

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