The findings of the latest of a series of online surveys by Financial Director magazine and Expense Reduction Analysts have been published.

In response to the question: What is likely to be your strategy to offset the costs of the Government’s emergency budget? The majority of respondents (46%) felt that it was too early to tell; whilst 18% said that they would be renegotiating existing contracts. A further 18% said that they planned to reduce headcount.

Just 13% said that they would review suppliers and a miniscule 5% felt they would opt for centralised purchasing.

The next survey, which can be found at www.financialdirector.co.uk, looks at what area of spend do organisations believe hold the greatest opportunity for cost reductions in the next 12 months for their business?