An independant study has been carried out for the Northern Ireland Council for Voluntary Action (NICVA). The results indicated that people living in Northern Ireland would be hit pretty hard for up to the next 10 years.
The report also suggested that budget cuts could be up to £1.2 bn over the next 5 years.
In April budget cuts for 2010 were detailed at £367m. Further cuts will be necessary in the Autumn of 2010 when the government announces its plans in the Comprehensive Spending Review.
The report predicts that Northern Ireland will be hit the hardest. They employ 31% of people in th epublic sector compared with 25% in the UK as a whole.
Executive Ministers are still considering where to make the cuts, however on the basis of the report it seems that job losses and wage cuts are very likely.
Will this result in more families needing to obtain quick cash and taking out more finance that they can’t afford?
Nice article.
Budget cuts will further hurt the economy. The government must instead increase spending to spur more economic activities.
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when you cut your spending then surely you will save more money