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Regions most effected by austerity cuts

The North East in general and Redcar and Cleveland in particular are the areas most who are the vulnerable places in England to the effects of austerity measures.Regions most effected by austerity cutsThe towns most affected are all within 20 miles of each other.

Credit research firm Experian looked at factors such as the numbers facing a large drop in income.

It said the Home Counties dominated the areas best equipped to weather cuts, including public sector job losses.

The least vulnerable areas are Elmbridge and Mole Valley, both in Surrey, and St Alban’s in Hertfordshire – all within London’s commuter belt – Experian said.

Experian came to its conclusions by weighing up a range of factors such as working age population, crime rates, house prices, the percentage of people in that area vulnerable to declines in disposable income and the jobless rate as of May 2010.

After Redcar and Cleveland, the next two areas most affected are Middlesbrough, which was the most vulnerable to government spending cuts in 2010, and Hartlepool, in the Teesside region.

But Experian said that it was not a “simple North-South story” as several southern areas feature in the 20 most-affected areas, such as Thanet, in Kent, and Newham, in east London.

In last month’s Autumn Statement update on the budget, Chancellor George Osborne said that the projected number of public sector jobs set to be lost by 2017 has also been revised up – to 710,000 from 400,000.

Meanwhile, public sector pay rises will be capped at 1% for two years.

The spending cuts are part of coalition government’s plan to cut the UK’s massive budget deficit.

If you are worried about your job- and you would like a part time work– please click here now- or  just pick up the phone and give Andy a call on 01451 832 206 or Andy’s mobile 07747 035 208 for an informal chat about the opportunities available to you.

UK incomes to fall 7.4% in three years

The independent Institute for Fiscal Studies (IFS) says George Osborne’s economic plans will mean a sharp drop in household income.UK incomes to fall 7.4% in three yearsThe think tank said real household income would fall by an average of 7.4% between 2009-10 and 2012-13.

The IFS said that following last week’s Autumn Statement by Chancellor George Osborne, the median average income was set to stagnate.

It expected it to be no higher in real terms in 2015-16 than in 2002-03.

The IFS said it was running out of words of sufficient strength to describe the current economic climate and the chancellor’s plans.

He said that Mr Osborne’s statement on Tuesday bore many of the hallmarks of his predecessor Gordon Brown’s Budgets and pre-Budget reports.

“Downward revisions in the outlook for tax revenues, fiscal rules expected to be met by the merest whisker, investment spending plans being cumulated over several years, a complex array of small policies aimed at promoting growth, fiddling with tax credits, backing away from pre-announced increases to fuel duties.

“Mr Osborne’s second Autumn Statement had more in common with some of Mr Brown’s Budgets and pre-Budget reports than perhaps either of them would care to admit.”

The coalition government broke with tradition and gave the job of forecasting the economy to the independent Office for Budget Responsibility (OBR).

The OBR revised down its growth forecasts for the next few years, meaning Mr Osborne must make far deeper cuts to public spending to meet his target of cutting the deficit.

Mr Johnson said: “None of us should have been too happy to hear what the OBR had to say. The consequences for all of our living standards are just as profound as they are for Mr Osborne and his fiscal rules.”

If you are worried about your income- and you would like to increase my income– please click here now- or  just pick up the phone and give Andy a call on 01451 832 206 or Andy’s mobile 07747 035 208 for an informal chat about the opportunities available to you.