All eyes on the budget
All eyes will be on the Chancellor as he delivers his budget on 24th March. His economic forecasts will be of particular interest. Although we’re now out of recession, everyone wants to know how long it will be until we can give a collective sigh of relief. Grant Thornton predicts economic growth to be around 2 ½ % for 2011 – lower than the Chancellor’s forecast of 3 ¼ to 3 ¾ % and so there is still someway to go.
Budget cuts are predicted and these will likely hit the public sector hardest. If the public sector is to operate effectively and efficiently within the confines of budget cuts, they will need to take a good hard look at their operational efficiencies.
Investment in technologies will be key in order to bring about efficiency savings whilst operating with the same (or fewer) headcount. And we’re not talking about implementing huge IT systems that require a PHD in quantum physics to operate – these systems need to support existing processes, be easy to use and deliver a proven and swift ROI. Systems such as spend analysis, electronic procurement and document management are just some of the solutions that are being rolled around across NHS trusts and local authorities as we speak – these organisations have recognised that the foundations for success amidst budget cuts and efficiency targets are built upon the right technological infrastructure.
So, as we all hold our breath to see what the Chancellor has in store, the classic song “Tomorrow” from the musical ‘Annie’ springs to mind – I wonder whether this is what the Chancellor is humming today?…..
The sun’ll come out
Tomorrow
Bet your bottom dollar
That tomorrow
There’ll be sun!…..
The sun’ll come out
Tomorrow
So ya gotta hang on
‘Til tomorrow
Come what may
Tomorrow!
Tomorrow!
I love ya
Tomorrow!
I certainly doubt whether anyone in the public sector will be joining in the chorus, that’s for sure!
