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View the article online at http://citywire.co.uk/wealth-manager/article/a410787

Budget expected to result in 1.3 million job losses

by Dylan Lobo on Jun 30, 2010 at 07:53

Leaked figures suggest the job losses in the UK could be far worse than anticipated.

The Guardian said it had seen a slide from a Treasury presentation on the Budget which indicated that the government is expecting between 500,000 and 600,000 jobs to be lost in the public sector and between 600,000 and 700,000 to disappear in the private sector by 2015.

Chancellor George Osborne gave no hint on how his tough Budget would impact the jobs market, raising concerns that he is not being honest about the true extent about the scale of the crisis in the UK economy.

The figures come into conflict with the Office for Budget Responsibility’s prediction that unemployment will peak this year at 8.1% and then fall to 6.1% by 2015. 

1 comment so far. Why not have your say?

Neil Shillito

Jun 30, 2010 at 08:53

The headline figures are daunting and job losses on this scale will undoubtedly affect the economy, but consider this: Labour 'created' 600,000 jobs in the public sector during their time in office. How on earth did the country manage before then? Weep not for the Lesbian Gay Whale Outreach Co-ordinator on £45,000 p.a + index-linked pension; she can get off her fat backside and get a proper job.

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