Our CFO's candid view on the Autumn Budget and why the OBR leak matters for every organisation that relies on technology.
A mixed week for the UK economy & OBR's reputation
Last week’s budget announcement triggered real conversations across the country, including inside our own business. Our CFO, Chris Sharp, shared his views with media outlets after speaking openly about the state of the market and what it means for UK organisations. His comments were picked up by several outlets, including the Daily Express and Greatest Hits Radio because they reflected what many leaders are experiencing.
Here is the uncut version of what Chris had to say.
“The OBR leak reflects the volatility and uncertainty that has shaped the economy over the past year and in the run up to the Chancellor’s speech.
As a forward thinking technology business, we rely on market stability so our customers can invest in strategic and transformational IT projects. That investment is pivotal to our growth and our long term business plan.
We see the impact of uncertainty every day. When budgets shrink and uncertainty grows, organisations reduce spending to the bare minimum. This leads to patchwork infrastructure, higher cyber risk and rising long term cost.
The salary sacrifice changes will affect more than half of our 300 strong team and their take home pay. The additional cost to the business is the equivalent of two to three new roles. This comes on top of the previous increase in National Insurance Contributions.
But there were positive elements in the budget. We welcome the focus on Artificial Intelligence because it is critical for closing the productivity gap and it represents a significant opportunity for our business.
We also work with several public sector customers including NHS trusts. Digital incentives should accelerate much needed upgrades to their IT systems and digital footprints. This is a major focus within our growth strategy.
Regional investment that supports tech hubs, rail infrastructure and scale ups in Birmingham and the Midlands is important. We are deeply connected to this region through business networks, partnerships, community programmes and education.
We are a political neutral organisation. Our hope is simple. We want any government in power to create strong and consistent economic conditions so we can continue to grow and continue to deliver world class customer service, innovative IT solutions and meaningful investment in our people.”
What sits behind this
We support decisions that strengthen economic stability because stability allows businesses to plan, invest and modernise. When the market is uncertain, organisations delay essential upgrades. Systems age. Cyber risk increases. Productivity slips. Costs rise. The effects are real and they are visible across every sector.
Here is what the budget signals for the wider technology landscape.
Key challenges
• Growth expectations remain flat and many leaders are protecting cash rather than progressing transformation.
• Investment pipelines become unstable when organisations lack long term confidence.
• Reduced take home pay for colleagues, along with increased employer costs, limits the ability to invest in jobs and skills.
• Net zero initiatives slow when incentives weaken. Businesses which opted into the EV scheme now face higher costs.
Some good news:
• Investment in AI is essential for improving productivity across the UK. It also aligns directly with our 2030 vision to double turnover and colleague numbers.
• Digital investment in public services can accelerate renewal of outdated systems, especially in the NHS.
• Support for Midlands connectivity and tech growth helps strengthen one of the most important innovation regions in the country.
Our position remains consistent. We want a strong, stable economy where organisations of all sizes can grow. This benefits families, businesses and communities.
OUR THOUGHTS ON THE OBR LEAK
The OBR leak became one of the most talked about moments of the week. It was not a sophisticated attack. It was not a foreign adversary. It was a preventable failure in how critical information was published.
Recent reporting shows that the OBR was given exemptions from using the secure government publishing platform back in 2013. This was intended to support autonomy but it created an environment where market sensitive content was being handled on technology designed for small scale websites.
The findings highlight several weaknesses.
- The OBR relied on a WordPress plugin to publish critical economic data.
- Safeguards were assumed to be in place but two configuration errors allowed public access to files before launch.
- A plug in bypassed login controls.
- The directory structure allowed anyone to download the document directly.
- An earlier incident in March showed that this had been a long standing issue.
This was an avoidable technical error that had significant public impact.
The lesson for UK organisations
Security does not fail only when an attacker is involved. It fails when governance, process and technical controls are not applied with rigour. The OBR incident is a clear reminder that:
- Sensitive information must sit on systems designed for its level of importance.
- Configuration should never be assumed to be correct without assessment.
- Autonomy should not override security standards.
- Human error can be just as damaging as an intentional breach.
- This is not about blame. It is about recognising why security maturity matters.
Where Intercity stands
For forty years we have helped organisations modernise securely. Our role is to give customers the confidence to run their business on strong foundations. That is why we invest in senior level cyber consulting, rapid security audits and managed security operations. Businesses need clarity, resilience and dependable partners, especially when market conditions are unpredictable.
We want the UK economy to grow. We want organisations to prosper. We want colleagues and communities to thrive. Our approach is simple. Provide technology that helps people do more and keep risk under control.
