Could you cut costs like the Chancellor?
Over the past few weeks, I’ve been exploring why businesses should regularly review — and often raise — their prices, particularly in an inflationary environment.
But what about government?
If you’re the new Labour administration, you’re in something of a bind.
You need to balance the books.
But you’ve come to power having promised not to increase income tax, National Insurance or VAT for working people.
So even though public finances are under serious pressure, you can’t simply “put up your prices.”
That’s why Chancellor Rachel Reeves took a different approach in her recent Spring Statement — turning her attention to how government operates, and where it can become more efficient.
She’s launched a full-scale spending review to identify potential savings, and is already making cuts to areas like the welfare system and civil service.
In short, she’s closing the gap not by raising revenue — but by cutting costs.
Now, some of these cuts are controversial — and rightly the subject of political debate. But this email isn’t about what she’s cutting. It’s about the principle: tackling financial strain by reviewing costs and improving efficiency.
It’s an approach many businesses would benefit from copying.
When was the last time you took a long, hard look at your expenses?
Not just skimmed your accounts (helpful as that is), but really asked where things could be done better…
Whether there’s technology that could save you time and money.
Whether your processes still serve you.
Whether your structure still fits your goals.
Because costs have a nasty habit of creeping up unnoticed. Processes become bloated. You hire more people. You get stuck using outdated systems. And before you realise it, your overheads have ballooned.
Rachel Reeves has launched a spending review. Could you do the same?
Understanding what you actually spend — not what you think you spend — is the first step. And what you find might surprise you.
Over the coming weeks, I’ll be sharing practical strategies for cutting costs in the smartest, most sustainable way — without compromising your growth. Keep an eye out for those emails.
But if you’d like expert help, that’s exactly what we do at Insight Associates.
When we manage your company’s finances, your profitability is always our top priority. That means reviewing not just what you charge, but what you spend — and helping you run leaner, smarter and more efficiently.
It’s a core part of how we help businesses grow faster and more profitably.
To find out more, call us on 01279 647 447 or email garry@insightassociates.co.uk to book a consultation with me or one of our specialists.
Warmly,
Garry
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