UK Expecting Finances to Drop

UK-FinancesSince April 2009, when Britain was under the recession crisis, the uppermost percentage seen is that of now, with 43% of households expecting their finances to go worse in a year’s time. Markit Economics and economist YouGov have developed this study. Apart from this, 57% of the households enquired the cuts in spending that might harm them.

“The May survey showed the reality of impending government spending cuts biting, with job security and the outlook for household finances among public sector workers slumping to the lowest seen since the depth of the recession”, said Andrew Self, an Economist at Markit.

Now, the Britain Government has set its chief aim as cutting the State’s record Budget deficit. In relation to this, a £6bn package on spending cuts will be unveiled today by George Osborne which will lead to the removal of thousands of civil service jobs.

Moreover, a new era of austerity for state employees and public bodies will be introduced by the Chancellor of the coalition Government. This has led to the conclusion, that for the public-sector employees, the job security will be dropping the most, and thus were the most subdued and downbeat!