Osborne urged not to turn off spending tap

Business leaders claim the spending squeeze could result in thousands of jobs being lost in the private sector across Yorkshire and Lincolnshire.

Many firms rely on contracts with local authorities and government bodies, which are likely to be hit by next Wednesday's review of public spending by the Chancellor George Osborne.

A report by the accountancy firm PWC suggests around half a million private sector jobs will go nationwide, with tens of thousand at risk in our area.

I met the MD of Hull-based Countrywise Water Coolers. Like many bosses, former nurse Diane Stow is somewhat nervously awaiting the outcome of next week's spending review.

Diane's company supplies almost two million litres a year to workplaces across the north of England, including many in the public sector. She's urging the Chancellor not to forget about the many private sector firms that supply schools, hospitals and councils.

While the majority of bosses accept the need to cut our huge budget deficit, most firms are hope the public spending tap won't be reduced to a trickle.

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