British Government Will Eliminate Half Million Public Sector Jobs by 2015
October 20th, 2010Via: AP:
Britain’s Treasury chief George Osborne said Wednesday the country’s government will make the largest cuts to public spending since World War II — slashing benefits and public sector jobs in a five-year austerity plan.
Osborne confirmed he had ordered 83 billion pounds ($130 billion) in spending cuts through 2015, which he claims are necessary along with tax increases to wipe out a spending deficit that reached 156 billion pounds last year.
As many as 500,000 public sector jobs will be lost, welfare payments sharply reduced and dozens of scheduled government programs halted.
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