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News Tag: Comprehensive Spending Review

November 2, 2010

CIPD estimating thousands more UK job losses from spending cuts

by Kay Mitchell
”CIPD
The Chartered Institute of Personnel and Development (CIPD) has said the private sector will be hit severely hard as a direct result of the Government’s spending cuts. Last month, Chancellor George Osborne unveiled his Comprehensive Spending Review – in what has been described as the most savage spending cuts since the Second World War. The cuts, designed to trim ...




October 25, 2010

David Cameron delivers speech at CBI annual conference

by Kay Mitchell
”David
Prime Minister David Cameron has delivered a speech today at the CBI’s annual conference and has outlined a “strategy for growth” for Britain’s private sector - just days after his Government unveiled its harsh Comprehensive Spending Review. The spending cuts introduced by the Coalition Government have received mixed responses; many have been critical of them warning that slashing the deficit ...




October 21, 2010

Chancellor Osborne defends savage cuts

by Kay Mitchell
”Chancellor
After yesterday’s Comprehensive Spending Review, Chancellor George Osborne has today defended his package of £81 billion spending cuts but deemed them to be fair. Addressing parliament yesterday, Mr Osborne said “Tackling this budget deficit is unavoidable. The decisions about how we do it are not. There are choices. And today we make them. Investment in the future rather than the bills of past ...




UK car production up in September

by Kay Mitchell
”UK
Figures published today by the Society of Motor Manufacturers and Traders (SMMT) revealed a rise in UK car production for the month of September. UK car production rose 5.8% against the same month a year ago, the SMMT said. For the year-to-date, car production is 35% higher than in the same period last year, the Society added. Meanwhile, it was strong month for ...




Retail sales in surprise fall in September

by Kay Mitchell
”Retail
The Office for National Statistics (ONS) has today reported a decline in UK retail sales for the month of September - the second monthly fall. According to the ONS, retail sales dipped 0.2% last month and followed a downwardly revised fall of 0.7% in August. The fall was attributed to weak demand for clothing and fuel - suggesting that consumers are ...




October 20, 2010

Government unveils harsh spending cuts

by Kay Mitchell
”Government
Chancellor George Osborne has today unveiled his Comprehensive Spending Review - in what has been described as the most savage spending cuts since the Second World War. Mr Osborne confirmed he would proceed with almost all of the cuts he detailed in his emergency budget in June. Firstly, defending the cuts, Mr Osborne told parliament: "Tackling this budget deficit is unavoidable. The decisions about ...




September public borrowing rises to record high

by Kay Mitchell
”September
The Office for National Statistics (ONS) has today revealed public sector net borrowing totalled £15.607 billion in September – its highest for the month of September since records began more than 17 years ago. The figure was also higher than the £14.2 billion economists had expected and compares with £14.806 billion a year earlier. Overall, public sector net debt stands at £952 ...




NIESR warns BoE not to act hastily regarding QE

by Kay Mitchell
”NIESR
Influential think tank, the National Institute for Economic and Social Research (NIESR), is urging the Bank of England to be cautious when considering its next move for the UK economy. Speculation is mounting that the Bank of England will pump a further £50 billion into the economy next month via its quantitative easing (QE) programme. QE, also known as printing ...




Osborne to unveil Comprehensive Spending Review today

by Kay Mitchell
”Osborne
Chancellor George Osborne will today reveal the Comprehensive Spending Review. He is set to provide details of how he intends to slash spending by £83 billion by 2014 as he endeavours to bring down the spiralling budget deficit. The cuts have received mixed responses; many have been critical of them warning that slashing the deficit too quickly could pose a threat ...




October 19, 2010

TUC attacks Government’s spending cuts

by Kay Mitchell
...




Social housing budget slashed in Spending Review

by Kay Mitchell
Social housing budget slashed in Spending Review
As part of the Government’s Comprehensive Spending Review, it is understood that the social housing budget will be slashed by more than 50%. The Spending Review, which will be unveiled by Chancellor George Osborne tomorrow, will provide details of how the Government intends to slash spending by £83 billion by 2014 as it endeavours to bring down the spiralling budget deficit. Housing ...




October 18, 2010

Former MPC member believes UK still at risk of double dip

by Kay Mitchell
”Former
Professor David Blanchflower, a former member of the Bank of England’s Monetary Policy Committee (MPC), has once again said massive spending cuts introduced to deal with the budget deficit could push the UK back into a recession. In June, and again last month, Mr Blanchflower warned the coalition Government that tough spending cuts could pose a threat ...




Business leaders support Government’s spending cuts

by Kay Mitchell
”Business
The Coalition Government’s decision to slash the budget deficit so soon has met with some criticism over recent times. However, it appears that Chancellor George Osborne's deficit reduction program has also met with support, which an open letter to the Telegraph newspaper has revealed today. To name but a few, the leaders of Marks and Spencer, BT, GlaxoSmithKline, Kingfisher and Microsoft UK have ...




Survey finds half of public sector workers ‘prepared to strike’

by Kay Mitchell
’Survey
A survey conducted by the Chartered Institute of Personnel and Development (CIPD) has revealed half of public sector workers would consider strike action in the event of pay cuts or changes to their pensions. The CIPD said 49% of workers surveyed agreed with the statement "workers have to do what's necessary to protect their jobs and if that ...




Asking prices up 3% in October, say Rightmove

by Kay Mitchell
Asking prices up 3% in October, say Rightmove
Property website, Rightmove, has today reported a rise in asking prices in October - after three months of falls. According to Rightmove, asking prices for residential property in England and Wales rose 3% and the group attributed the rise to vendors refusing to adjust to new market conditions. Rightmove warned sellers that increasing their asking prices is not the way forward ...