20 October, 2010
The Chancellor's announcements today will have a huge impact on Lancashire Business. In the North-West, it is estimated that the cuts will result in excess of 100,000 public sector employees losing their jobs. Nationwide, up to 490,000 jobs in the public sector will be lost by 2014 – 15. Experts are already forecasting that the North-West will be hit hard by the cuts.
Jonathan Holden, Employment Law Solicitor at Forbes commented, "The potential impact of the Comprehensive Spending Review will be huge. I expect to see a steep increase in the number of Tribunal cases following the cuts and inevitable redundancies; and with Tribunals increasingly awarding greater compensation as a result of the present economic climate, it is clear that Employers in both the public and private sector will feel the pinch."