Danny Alexander reveals public sector job loss numbers
Danny Alexander, the Chief Secretary to the Treasury, has given opposition parties and the financial press something of a bonanza today having been photographed reading a draft copy of the comprehensive spending review. Sharp eyed photographers noticed that a figure of around 490,000 had been penned into the report citing the potential number of job losses in the public sector. This has caused disarray within the government and anger within the trade union movement.
Over the last few weeks we have seen much comment, much rumour and much smearing with regards to the public sector budget and government spending review but only now are we starting to see the reality. If up to 500,000 jobs are lost in the public sector this will impact not only those in question but also companies which depend to a large extent on not only contracts from the public sector but also income from those employed by the public sector. We cannot play down how significant this number could become if indeed the UK government does confirm this worst-case scenario tomorrow.
George Osborne has the unenviable task of cutting £80 billion from public spending over the next four years while trying to maintain a relatively strong UK economy.
What have consumers learned about the recession?
It depends upon which newspaper or media channel you subscribe to as to whether you actually believe the UK economy has turned or is still in recession. However, over the last 18 months or so there have been many lessons learned by consumers but will we really make use of them in the future?
Despite the fact that the UK banks have come in for the most severe criticism from consumers...
UK trade deficit falls to an 18 month low
The difference between imports into the UK and exports out of UK fell to an 18 month low of £7.4 billion with exports up 0.3% to £19.7 billion and imports down 2.5% in November to £27.1 billion. While on the surface this may not seem like a major issue, it shows that the weak UK currency is starting to attract the attention of overseas buyers. Many people believe that weak sterling could be the...Read More
Is the small business sector set to become an election winner?
It seems so each and every day there is a new headline regarding the small business sector, how the sector can be assisted and prospects for the future. This has led many to believe that the small business sector will ultimately decide how a great number of UK voters use their power in the general election expected in 2010.
The government's plan to force banks to increase levels of...
Can Scotland really go it alone?
As we wait publication of the Calman report this week, into potential devolution in Scotland, there are many issues to weigh up regarding the future of Scotland and the Scottish economy. For some time now the SNP, the ruling party in Scotland, has been very vocal in its support of an independent Scotland and if the leaked proposals were put into action this would certainly be a step forward. But c...Read More
Inflation knocked off the news headlines by market turmoil
As stock markets in the Far East fell by around 5% overnight it seemed obvious that the headline inflation figure in the UK would not receive much attention today. The government will be thanking their lucky stars that this is the case because the rate of inflation in the UK has reached a new 16 year high of 4.7% and it is expected to go higher before succumbing to the crumbling oil price.