CSR could cost half a million jobs

Next Wednesday’s Comprehensive Spending Review see be the start of the loss of 100,000 building jobs, according to accountancy firm PricewaterhouseCoopers.

A week ahead of the chancellor’s comprehensive spending review, the study estimates that half a million people in the private sector will lose their jobs as a result of the cuts.

The report found that private sector output could be slashed by £46bn by 2014/15.

PwC’s chief economist John Hawksworth said that the private sector’s dependence on government contracts had increased during the downturn as other orders dried up.

Dave Prentis, general secretary of Unison, said: “This report bears out all we have been warning over the past few months. Public spending cuts will damage the economy and will drag the country into a downward spiral.”