John Mann, a Labour MP, has just been asking how the average salaries of the new private sector jobs that the OBR expects to be created will compare with the average salaries of
those public sector jobs expected to be lost.
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.
Not exact matches
For every one
job less in the
public sector, two new
jobs are
expected to be created in the private
sector.
We are told that the
expected job losses from this spending review amount to 490,000, in the
public sector alone.
There are particular concerns about where the private
sector jobs will come from for the 490,000
public -
sector workers who are
expected to lose their
jobs.
Some facts are already depressingly familiar: the spending review will put half a million
public sector workers out of a
job; another half a million people in the private
sector are
expected to be fired as the economy slows.
The budget is
expected to focus on about 10 key areas including infrastructure, macroeconomic stability,
job creation, agriculture, entrepreneurship, business growth, creating a Ghana beyond aid, debt management, corruption,
public sector reforms among others, and a continuation of the 2017 budget initiatives.
The OBR says more
public sector workers will lose their
jobs under David Cameron's government, and it says much of the
expected increase in overall employment would have occurred under Labour as well.
More than a million
public sector workers are
expected to strike in a series of disputes with the government over pay, pensions and
job cuts.