Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Budget expected to result in 1.3 million job losses

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. 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
CIO Tapes 2: two warnings and a lot of optimism

CIO Tapes 2: two warnings and a lot of optimism

Our group of leading asset management CIOs see a lot of opportunities – and overseas investors are buying UK too

Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Read More
Your Business: Cover Star Club

Profile: Thomas Miller explains its post-restructure plans

Profile: Thomas Miller explains its post-restructure plans

Thomas Miller Investment’s (TMI) head of wealth Matt Phillips has strong opinions about many things

Wealth Manager on Twitter