• Govt cuts to cost UK jobs, says PwC

Cuts to public spending in the UK will cost 25,000 jobs in the hotel and catering sector, according to a study by PricewaterhouseCoopers.

The private sector could lose almost half a million jobs and £46bn in annual gross output by 2014 to 2015, as a result of the £83bn public spending cuts to be announced next week.

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