CEBR: Public spending a significant proportion of GDP outlay

-

Public spending GDP figures may affect future HR strategy and practice in the UKPeople in HR jobs may be interested by new figures that show public spending has increased across the UK.

With a looming recession in the sector, as forecast by many employment experts, and the seeming inevitability of cuts in resources for the industry, areas with greater dependency on such funding could be hurt most.

Data from the Centre for Economics and Business Research (CEBR), an independent consultancy offering advice to organisations, found that the north-east had the highest proportion of public spending as gross domestic product in England at 64 per cent.

In Northern Ireland and Wales, that level is 70 per cent and comfortably above the UK average of 48.4 per cent.

HRreview Logo

Get our essential weekday HR news and updates.

This field is for validation purposes and should be left unchanged.
Keep up with the latest in HR...
This field is hidden when viewing the form
This field is hidden when viewing the form
Optin_date
This field is hidden when viewing the form

 

Furthermore, the CEBR commented that two-thirds of the fiscal crisis was as result of "excess rise" in public spending.

Financial expert Dr Ros Altmann, in response to the government Budget pledges on public spending and cuts last month, said that rather than a decrease, the figures implied an increase in outgoings and that the Treasury had failed to rein in its outlay of taxpayer resources to the sector.

By Ross George



Latest news

Sustainable business starts with people, not HR policies

Why long-term success depends on supporting employees, not just meeting ESG targets, with practical steps for leaders to build healthier organisations.

Hiring steadies but Gulf crisis threatens recovery in UK jobs market

UK hiring shows signs of stabilising, but rising global uncertainty linked to the Gulf crisis is weighing on employer confidence and delaying recovery.

Women ‘face career setback’ risk with flexible working

Female staff using remote or reduced-hour arrangements more likely to move into lower-status roles, raising concerns about bias in career progression.

Jo Kansagra: Make work benefits work for Gen Z

Gen Z employees are entering the workforce at full steam, and yet many workplace benefits schemes are firmly stuck in the past.
- Advertisement -

Union access plans risk straining workplace relations, CIPD warns

Proposed rules on workplace access raise concerns about employer readiness and operational strain.

Petra Wilton on managers struggling with new workplace laws

“Managers are not being given the tools they need to fully understand how the rules of the workplace are changing.”

Must read

Diversity, terrorism and the recession

In the aftermath of 9/11, Western societies have been under the constant fear of foreigners coming into our country to carry out acts of terrorism. The London bombings of July 7th, 2005 changed the emphasis to a fear of home grown terrorists. This Analysis is explored by Solat Chaudhry, Director of the National Centre for Diversity

Is your organisation GDPR ready?

With a little over a month left until the General Data Protection Regulation takes effect in Europe, the Pillar Project's in-house GDPR specialist, Michael Shea, examines how the new law will begin to affect the lives of private EU citizens.
- Advertisement -

You might also likeRELATED
Recommended to you