Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
Next Wednesday’s Comprehensive Spending Review see be the start of the loss of 100,000 building jobs, according to accountancy firm PricewaterhouseCoopers.
A week ahead of the chancellor’s comprehensive spending review, the study estimates that half a million people in the private sector will lose their jobs as a result of the cuts.
The report found that private sector output could be slashed by £46bn by 2014/15.
PwC’s chief economist John Hawksworth said that the private sector’s dependence on government contracts had increased during the downturn as other orders dried up.
Dave Prentis, general secretary of Unison, said: “This report bears out all we have been warning over the past few months. Public spending cuts will damage the economy and will drag the country into a downward spiral.”
