Articles - The public sector recession is now in full swing


Autumn Statement: The public sector recession is now in full swing

 Paul Cleal, PwC partner and head of Government & Public Sector, said:

 “The public sector recession is now in full swing. Public sector employees will feel the squeeze further next year after today’s announcement on the 1% cap on public sector pay rises."

 “As we expected, public sector pay restraint and departmental savings will continue beyond the next election due to the impact on the UK public sector of the greater than expected debt burden recognised by the Chancellor today. Public servants will continue to be asked to deliver more for less and, with the growing pressure on health and care services from an ageing population, this represents a long term double whammy which requires real and lasting change."

 “To bring about lasting change, Government will have to push ahead with its ambitious plans to open up the delivery of public services to the private sector and social enterprise."

 “The figures announced today underline the reality of the situation facing the country, that the money to pay for pensions, services and benefits must come from somewhere. To get public support, the government must make it a priority to communicate this reality to everyone, including public sector employees and those who rely on public services.”
  

Back to Index


Similar News to this Story

Pensions Dashboards - handing over the baton
The Pensions Dashboards’ marathon appears to be nearing the final lap. The largest pension schemes, those covering most UK savers, are already connect
The impact of Generative AI on insurance analytics
WTW’s perspective on EIOPA’s 2025 Market-Wide Generative AI Study shows how AI—backed by real insurer use cases—is poised to rewrite the rules of insu
How does an uncertain world effect covenant reliability
Recent geopolitical events have had wide ranging economic impacts, including for defined benefit (DB) pension schemes, with many trustees navigating a

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.