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
Play HSBC's Stephen King warns of 'enormous' Brexit deficit danger

HSBC's Stephen King warns of 'enormous' Brexit deficit danger

Brexit will weaken the economy, fail to boost exports and lessen the country's ability to fund its 'enormous' deficit, according to HSBC's senior economic adviser Stephen King.

Play Premier's Smith: electricity and water can be a good mix

Premier's Smith: electricity and water can be a good mix

Exposing your person to electricity and water simultaneously is ill-advised, but what about your portfolio?

Play Citywire 10k: video highlights

Citywire 10k: video highlights

Citywire held its sixth annual charity run last week, which hosted over 200 people and raised £14,000. Here are the video highlights.

Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter