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The Masked Tulip

Job Cuts Fear For Thousands Of Public Sector Workers In Swansea

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http://www.thisissouthwales.co.uk/news/City-public-sector-staff-cuts-fear/article-2327382-detail/article.html

THOUSANDS of public sector workers in Swansea will find out tomorrow where their future lies after the first budget from the coalition Government.

Talk of £6 billion worth of cuts has dominated the headlines since the Tory- Liberal Democrat Government was created last month.

Chancellor George Osborne's emergency budget will tackle tax changes, benefits and tax credits, pensions, motoring and transport and alcohol and tobacco.

Ian Price, assistant regional director of the Confederation of British Industry (CBI), said it would be one of the most interesting budgets for a number of years.

He said: "It is going to impact everybody. Nobody will escape. The indications are there are going to be some serious cuts that will impact on the public sector.

"It's not clear where that will be, but we will see some departments disappear and some merge."

Mr Price said public sector workers may be preparing for the worst, but could be pleasantly surprised by the outcome of the budget.

However, the CBI chief also said job losses in the public sector could also be a serious concern for the local economy as a whole in Swansea.

He said: "As well as working there, they spend most of their money in the local economy.

"The nervousness of those people will also impact, as they will reel in their spending, which is somewhat concerning."

"It's particularly important for confidence purposes with the rest of Europe and the World Bank."

Richard Croydon, South Wales director for investment house Brewin Dolphin, said the Government's proposed changes to capital gains tax would have a devastating impact on savers and buy- to-let investors.

He said: "The coalition's plans are light on detail, and this lack of information has caused many savers and landlords sleepless nights.

"We have been receiving calls from concerned clients who are unsure whether to act ahead of the emergency budget.

"We would stress to everyone worrying about capital gains tax to seek independent financial advice before taking any action." Mike Hayden, head of Swansea and West Wales for Barclays Corporate, said businesses would be looking for stability and confidence in the future prosperity of the UK economy from the emergency budget.

For over a year I have been thinking that my true worry should be about where my future income will be rather than buying a house.

40,000 PS jobs in a population of about 190,000 - go figure. Cardiff is not much better.

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swansea public sector jobs numbers are distorted by having the dvla hq

You could say the same of Cardiff re Companies House, WAG. Newport with Patents Office, Preston/Blackpool with Work & Pensions, Telford with HMRC, London with, um, London stuff.

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The Financial Editor of the Indie was just on BBC Wales stating that it "will be nasty for house prices" re all the public sector job losses coming and hence places like Wales will be especially hit.

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It's looking scary here in the Public Sector. 25% cuts across the board will have a big impact on posts. We will see in the next six months how my employer will absorb the cuts. I'll keep you all posted.

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It's looking scary here in the Public Sector. 25% cuts across the board will have a big impact on posts. We will see in the next six months how my employer will absorb the cuts. I'll keep you all posted.

Who is your employer - which organisation? No one will link your profile here with who you are in real life... Unless your profile is your real name and that is your photo!?

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Who is your employer - which organisation? No one will link your profile here with who you are in real life... Unless your profile is your real name and that is your photo!?

Not on the forum. If you would really like to know you can PM.

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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