Magazine article Public Finance

WLGA Warns of Double-Dip Recession Risk

Magazine article Public Finance

WLGA Warns of Double-Dip Recession Risk

Article excerpt

The Welsh Local Government Association has warned that the public sector cuts to be announced next month put Wales at greater risk of returning to recession.

Speaking ahead of the Comprehensive Spending Review, WLGA chief executive Steve Thomas said local government was waiting in 'trepidation' for real-term cuts of 25% over the next four years.

The Welsh Government will publish its budget in November following the UK Spending Review. Thomas said the fall in revenue for Welsh local government could be around £140m each year with a £50m annual cut in capital spending.

'Reductions of this scale will inevitably result in job losses across the public sector," he said. 'Local government in Wales has already announced between 3,000 and 4,000 job losses over the next three to five years, all of which has a knock on effect on spending in the local economy. …

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