Government Action To Save Jobs, Prevents £12bn

Government Action To Save Jobs, Prevents £12bnAlistair Darling is revealed to claim next week that government action to shield jobs has prevented around £12bn, as Labour utilizes the pre-election budget to form key economic demarcating lines with the Tories.

Miles Templeman, Director-General of the Institute of Directors, quoted, "This means making significant spending cuts in 2010. The argument that early cuts would jeopardise the recovery is mistaken. We believe that lower spending is likely to trigger a whole series of positive developments that will assist growth."

Last year's budget anticipated that the level of unemployment, based on National Audit Office assessments of independent forecasts, would be 2.09 million people in the fourth quarter of 2009 and 2.44 million in the fourth quarter of
2010.

By December's pre-budget report (PBR), the government had revise its estimation for unemployment level to 1.72 million for 2009 and 1.91 million for 2010, adding that this would prevent over £10bn over five years from lower unemployment benefits alone.

In addition, it is speculated that Cooper will announce that the government will subsidise another 7,000 jobs for young people, landing the total created under the Future Jobs Fund to 117,000.

General: 
Business: 
Region: