Britain awaiting "real austerity", says BCC director

Brits have been told that the nation's recent economic meltdown will pale in comparison to the “real austerity” that's about to come.

Speaking at the annual meeting of the British Chambers of Commerce (BBC) on Monday (March 31), John Longworth, director-general at the group, said the government's failure to make improvements in areas like infrastructure and education is due to carry serious repercussions.

Cited by thisismoney.co.uk, he said the coalition's plan to rebalance the economy by increasing exports has failed and that Britain risks the fate of becoming a “bit-part player” in the economy unless things start to change.

However, Mr Longworth says that due to the failings of the current government, the worst is yet to come.

“Contrary to popular opinion, we haven't really seen austerity in the way, for example, as has been applied to many countries around the eurozone,” he commented.

“The next stage will require more belt tightening, possibly even real austerity in some quarters.”

According to britishchambers.org.uk, Mr Longworth says the next government will face “very hard choices” as a result of previous regimes ducking big changes to Britain's rail network, airports and motorways.

The BCC head went on to urge some of the bigger businesses to loosen their purse strings in an attempt to alleviate some of the strain.