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Workers Worried Over Redundancies

28 January 2009

Almost 50% of people in full-time work are fearful of possible redundancies, according to a survey. The figures come in the wake of plunging bank share prices that followed a second multibillion-pound bank bail-out package from the Government. The Ipsos Mori poll found despite a slightly rosier outlook concerning UK prospects, 49% feared the looming recession could force them out of their jobs over the next 12 months. The gloom accompanies a plunge in popularity for Prime Minister Gordon Brown and a 10-point rise from the Tories on Labour in just one month, leaving the Conservatives 14 points ahead. Mr Brown and Chancellor Alistair Darling recently announced a fresh raft of measures designed to shore up the banking sector and get credit flowing again. They included taxpayer-backed insurance against expected "toxic" debts, powers for the Bank of England to buy up to £50 billion of "high-quality" assets from banks and other financial institutions to improve liquidity and increasing the Government's stake in Royal Bank of Scotland (RBS) to nearly 70% from 58%. Copyright © Press Association 2009

 

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