CBI suggests finance sector job losses on the rise
The CBI has today come out to warn that there will be a significant increase in finance related jobs losses over the coming months. This is an area of industry which has attracted much positive and negative attention over the last few months but it is a sector which seems to be coming under more and more pressure. While many observers will sit back and mock the loss of jobs in the traditionally highly paid financial sector, looking further ahead these are vital elements required for a recovery in the UK economy.
The CBI will today ask the government to take bold steps to ensure the safety and security of the financial markets going forward so that there is no skills shortage or brain drain while the UK recession continues to drag on. London is now the centre of many financial markets, hosts a high percentage of worldwide financial companies and has a stock exchange which has been a leader in Europe and one of the leaders in the world for many years.
Short-term measures could see this position undermined with more and more companies and countries looking to grab business from London. Potentially the long-term strength of the capital could come under serious pressure.
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