500,000 public sector jobs face axe

Wednesday 20th October 2010

One in 10 public sector jobs are set to be lost as a result of today's hardline Spending Review by the Government.

The figure was revealed in a slip-up by Treasury Chief Secretary Danny Alexander after he was photographed with a briefing paper showing that the Government accepts that 490,000 public sector jobs will be lost by 2014-15.

Full details of the cuts will finally be outlined by the Chancellor of the Exchequer George Osborne today.

Osborne will make £83billion of spending cuts across the next four years.

In addition to huge job losses, the Coalition will also announce the state retirement age is to be raised to 66 in 2016.

This is a full decade earlier than previously planned and will help the Government save billions of pounds in the medium term.

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