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Topshop boss saves UK government 3 billion pounds

Saturday, June 04, 2011 - 01:12

June 3 - A spending review led by Topshop boss Sir Philip Green finds a way to save the UK government billions. Kirsty Basset reports.

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PLEASE NOTE: THIS EDIT CONTAINS CONVERTED 4:3 MATERIAL From the glamorous world of fashion to politics. Sir Philip Green, billionaire businessman and owner of the Topshop clothing chain is using his business acumen to help the British government save money. He's led a review which has found savings of around 3 billion pounds can be made by exploiting its size and credit rating with suppliers. Under the plan, a central team will buy goods and services for the government, like travel and stationery instead of individual departments brokering their own deals. Annual spending on government goods and services is expected to fall from 13 billion pounds to 10 billion pounds over the next four years. Britain's coalition government is keen to set a good example as it goes about slashing 81 billion pounds across the public sector by 2015 in an effort to reduce a record budget deficit. But critics argue the austerity measures could plunge the country back into recession. Kirsty Basset, Reuters

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Topshop boss saves UK government 3 billion pounds

Saturday, June 04, 2011 - 01:12