Home | Mail | Jobs | Area Profiles | Bizstay | Rezpremises

Outlook for Rand Uncertain

This week has seen the release of the United Nations Conference on Trade and Development (UNCTAD) World Investment Report.


News | Property | Business | Farms | Hotels | Land | Investment

UK to Continue Austerity Policy

| International News by Staff Reporter

The latest budget figures presented by George Osborne for the 2015/16 spending round continue the policy of belt-tightening by the coalition government.

11.5 billion of spending cuts are planned with local councils losing 2.6 billion and education 500 million. Almost all departments will be affected including Welfare, Police, student grants and charities, with 144,000 public sectors jobs being axed.

Osborne also announced an end to the practice of giving civil servants automatic pay rises which he said had been rising at 7% per annum.

While local government receives the largest cut at 2.6 billion, the Home Office will lose 600 million, Defence will lose 500 million and the Ministry of Justice 700 million in the budget.

Osborne emphasized that Britain was on the road to recovery and the cuts were necessary to rescue Britain from "intensive care".

Opposition parties lamented the fact that services to the public were being substantially reduced yet again.

The only department not to receive budget cuts was Intelligence Services whose budget increased by 3.5%.

Source: www.bizpremises.co.za

bizpremises 2004-2012 | Sitemap | Advertising | Calculator | About Bizpremises | RSS | Information | Mobile