With an
estimated 500,000 public
sector jobs set to go over the next four years, the figures raise the possibility of unemployment edging towards the symbolic figures of three million unless, as the coalition hopes, rapid
growth in the
private sector stymies the impact of redundancies.
With ministers banking on rapid
private sector growth to replace the
estimated 490,000 public
sector jobs expected to be lost, the Prime Minister backed a world of «unprecedented economic change» in which small start - up companies can become global giants in a matter of years.