Yesterday, the media was full of speculation that, by next month, the UK’s economy will be officially out of recession and yet many business analysts are predicting that 2010 will still be a year punctuated with job losses and redundancies.
According to Enterprise UK, a further 300,000 jobs will be lost before we reach the peak of unemployment.
What is of further concern, is that the watchdog claims that this figure could be even more than anticipated as a consequence of cuts in public spending and Alistair Darling’s policy to raise National Insurance.
George Wilson, director of enterprise at Enterprise UK comments; “ Regardless of whether the UK comes out of recession, the fact remains that 2010 will see increasing redundancies and job cuts as a result of the current governments short-sighted economic policies. The fact that employers National Insurance contribution is set to increase right at the time when companies will be over the worst of the recession and may be looking to hire new staff, just goes to show how out of touch the current administration are.”