|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    23rd of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Economy News feed Economy News

All Financial News feed All Financial News




Document reveals 1.3 million jobs will be lost following budget

Bookmark and Share

by Kay Mitchell
”Document

Last week’s tough budget is expected to result in the loss of more than one million jobs by 2015, according to a leaked Treasury document.

The Guardian has reported that while there will be an estimated 2.5 million jobs created in the next five years, 1.2 million will be lost in the same period.

Last week, Chancellor George Osborne unveiled tough austerity measures to deal with Britain’s record deficit of £155 billion.

Thirty-nine-year-old Osborne has pledged to wipe out the deficit within five years.

However, an extract from the leaked document said: “100-120,000 public sector jobs and 120-140,000 private sector jobs assumed to be lost per annum for five years through cuts.”

Many experts raised doubt on the private sector’s ability to create so many jobs in such a difficult economic climate, suggesting the true gain in employment could be yet more modest.

Discuss this in the Finance Markets forums

Story link: Document reveals 1.3 million jobs will be lost following budget



News posted: June 30, 2010

Financial Services:





Related financial stories to: Document reveals 1.3 million jobs will be lost following budget:
Previous: «
Next: »

Visited 3741 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: , , , ,