Redundancy fears sweep the UK employment sector
A number of redundancy advisory businesses have announced a major increase in enquiries from the UK public as more and more people face the threat of job losses in the short to medium term. While there are a number of plans open to those who lose their jobs or have their income severely reduced, this is the first time we have seen a substantial increase in enquiries for a number of years.
The UK government's housing rescue plan which was announced today should assist a number of those who lose their jobs in the short to medium term and there are also a number of specific options open to them with regards to assistance from social services. However, with the UK budget already very tight, UK debt increasing and more and more pressure on social service payments there will need to be some savings in the public sector in due course.
The double whammy of a reduction in income receipts for the government and increased social services payments will put further short-term pressure on the public purse. There is no doubt that UK taxes will need to be increased in the medium to longer term but as yet the government are keeping their plans under wraps.
Share this..
Related stories
Barclays bank set to increase staff salaries
Barclays bank is headed for controversy as the UK government and regulators watch over the bank with news that staff salaries at Barclays Capital Investment will be increased across the board and backdated to June 2009. This is a direct response to the UK government's attempt to limit bonus payments in the short to medium term although this does not mean that Barclays Capital Investment will not b...
Read MoreScottish executive under pressure as more job losses announced
When contact lens maker Bausch and Lomb today announced 500 job losses in West Lothian it is clear that nobody in the Scottish parliament expected this. The company is effectively transferring production from West Lothian to the US and Ireland as it looks to consolidate in these difficult economic times. However, a number of Scottish MPs are now calling on the Scottish executive to step in again a...
Read MoreDarling appointed chancellor
New prime minister Gordon Brown has appointed long-time political ally Alistair Darling to replace him as chancellor.Business leaders have welcomed the promotion of Mr Darling, who until yesterday had served as trade and industry secretary under the previous premier Tony Blair.The Confederation of British Industry (CBI) said the Edinburgh MP was the "right choice" to succeed fellow Scottish parlia...
Read MoreHas unemployment peaked?
Over the last few months there has been much concern over the UK unemployment figures although of late there would appear to be an easing in the rise in unemployment. Figures due fairly shortly are set to confirm that unemployment in the UK has reached 2.5 million although the relatively slow rate of increase has surprised many analysts. So what is happening? While the headline figure of 2.5 mi...
Read MoreEU leaders agree deal on banking bonuses
European Union leaders have today agreed the outlines of a new initiative which will see the EU look to agree deals with various European banks that would see bonuses clawed back if banks fail to hit their profit forecasts. This new initiative, ahead of the G20 summit, is an interesting alternative to the ones put forward so far by the UK and US administration. Whether or not it will be accepted b...
Read More