Urgent Press Release Revision: Impact Executives Comment on Comprehensive Spending Review

LONDON, October 19, 2010 - Impact Executives (www.impactexecutives.com/) would like to
announce that on Monday 18th October 2010 a press release was issued which
contained an incorrect announcement. Please disregard the content of this
release.

Please forward any enquiries regarding this to: Stephanie Campbell on
+44(0)20-7314-2012

The press release which was supposed to be issued is the Comprehensive
Spending Review, details listed below:

George Osborne will unveil his GBP83bn programme of cuts and revenue
raising measures over the next four years tomorrow in a comprehensive
spending review. Osborne is cracking down hard on "welfare and waste" in
order to carve out more money for healthcare, schools and key infrastructure
projects, and to fuel economic growth. 35 business leaders, signatories to a
letter pledging support of these reforms, are confident that private sector
would generate new jobs for public sector staff who've lost theirs.

www.guardian.co.uk/politics/2010/oct/17/george-osborne-cuts-spending-review

The government is keen to draw attention to green lit projects such as
GBP16bn Crossrail link, GBP230m to help 2m rural homes with faster broadband
speeds by 2015 amongst others. Local authorities can now also spend
government grants in ways that they see fit for their local residents,
leading one official to remark that this is the "most radical
decentralisation in recent times". Though still braced for cutbacks, the
promise of abolishing 4,700 Whitehall performance targets for councils should
allow more focus on frontline services. Oxford University is also pushing
forward with the biggest building programme worth GBP1bn in its 800 year
history which will provide major boost to local business and employment.

However there are still some serious tough times ahead. The NHS will
shrink by "a fifth" as even a ring-fenced health budget cannot protect it
from rising cost pressures. The government has announced a huge cull of
quangos - 192 axed, 118 merged with the future of other bodies still hanging
in balance - and though improving accountability and cutting costs is
definitely the need of the hour, will the cost of closing the quangos
over-shadow the benefits if not executed efficiently?

Then there's the government's handling of how these cuts will be
implemented as it will inevitably create a lot of confusion and anxiousness.
"People are much more likely to accept tough messages if they are given the
right information at the right time and feel that their views have at least
been heard and taken into account before decisions are made." CIPD's latest
findings show that the government has to tread softly as must also the trade
unions. Many private sector employees are increasingly sensitive to further
strike action in the face of pay freezes, job cuts or job losses and cuts to
pension entitlement.

www.peoplemanagement.co.uk/pm/articles/2010/10/striking-public-workers-may-lose-public-sympathy.htm

(Due to the length of the above URLs, it may be necessary to copy and paste
the hyperlinks into your Internet browser's URL address field. Remove the
space if one exists.)

Head of Impact Executives' Public Sector Practice, Premila Puri, says,

"What the government needs are experts to show how transformation can be
effected with minimal damage, maximum impact embedding experiences from their
private sector incarnation and by understanding the nuances of public sector
workings. Transforming cultures and mindsets at the front line where real
change will involve and transform as a systemic change, rather than
structural reform alone. Our Interim Managers are experts at leading
transformational change and post CSR the public sector will need these
experts delivering the Right solution, Right now and at the Right cost.

About Impact Executives

Impact Executives is a leading interim management (
www.impactexecutives.com/) provider to organisations of every size in
the UK and globally.

Originally formed as a specialist practice within PA Consulting Group,
over the past 20 years Impact Executives has helped more than 2000 companies.
These include more than two-thirds of the FTSE 250 - find the very best
executive interim management talent.

With offices covering the UK, continental Europe, Asia Pacific and
Australia, Impact Executives is part of the global services consultancy
Harvey Nash Group plc, giving clients and interim managers the confidence
that we have the resources, expertise and focus to deliver results - fast.

Note to editors:

Impact Executives would like to announce that on Monday 18th October a
press releases was issued which contained an incorrect announcement. Please
disregard the content of this release.

Please do not publish this until the press release is re-issued at a
later date. If you have published this press release we kindly request that
it is removed.

Please forward any enquiries regarding this to: Stephanie Campbell on
+44(0)20-7314-2012

    For more information contact:

    Premila Puri
    Education Practice
    Impact Executives
    13 Bruton Street, London, W1J 6QA
    +44(0)20-7314-2004

    www.impactexecutives.com

For more information contact: Premila Puri, Education Practice, Impact Executives, 13 Bruton Street, London, W1J 6QA, +44(0)20-7314-2004