As the coalition prepared to unveil the spending review, an open letter from 35 top UK business leaders claimed that there is "no reason" to believe that it will undermine the UK's economic recovery.
Ruth Spellman, chief executive at CMI, said this response shows that organisations are "clearly being pragmatic" about deficit reduction.
However, she noted: "The government must not take this letter as an excuse to ignore the need for increased business support as we continue to face the toughest economic times on record."
Ms Spellman added that the coalition needs to take "immediate action" to increase the support on offer to UK managers by giving them greater control over how they spend the funding available to them.
It comes after Albert Ellis, chief executive of analyst Harvey Nash, said that the flexible labour market in the UK has protected the country from some of the severe effects which have been experienced elsewhere in the world.
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Posted by John Oak and Wayne Bly
Source: The Sales Director News