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PBR: Darling announces redundancy initiative

The Government is launching a new initiative with the UK’s 20 largest employers to help those made redundant, revealed Chancellor Alistair Darling.

Speaking in his pre-Budget report, Darling said he is “determined” to help those people made redundant by encouraging them to move quickly into work under the National Employment Partnership.

The initiative, chaired by the Prime Minister Gordon Brown, sees the UK’s largest employers, including Tesco and The Post Office, join forces to help speed up recruitment, increase vacancies through Job Centre Plus and step up access work-related training.

Darling said “employment remains near record high”, and while unemployment is rising, it is still two million below the level of the 1990s with over 500,000 unfilled vacancies in the UK.

The Chancellor has set aside a total £2.3bn for “employment methods”.


Predictions for the pre-Budget report

Chancellor Alistair Darling is being urged to cut taxes, increase stamp duty
thresholds and reduce corporation tax in order to stimulate the UK economy in next Monday’s pre-Budget report.

Drawdown during a turndown

I am drawing down income from my pension fund and I am seeing its value fall dramatically due to the current conditions. Can you tell me how this all might affect my income today and in the future?


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