City News Desk

The Prime Minister today is meeting the heads of the UKs largest private sector companies in an attempt to find a solution to the proposed job cuts in the public sector, estimated to be anywhere up to 300,000 job losses.  Financial services is the latest industry to declare that job cuts would be the "name on the street" with record drops in the number of people employed by the City.

Financial services employment opportunities will hit new lows this quarter, with profit warnings expected to be announced across the board, which will trigger a new "cull" in headcounts.

According to a new survey by the CBI and PWC, jobs in financial services, were "cut at the fastest rate in 17 years in the three months to December".

Around 30,000 jobs were lost in financial services in the UK, with another 15,000 expected to be lost in the next 3 months, which would mean 970,000 people employed in financial services, the lowest ever since official records began.  Normally figures are above 1 million, with a peak of 1.1 in the 2008

The Prime Minister said in a recent statement:

"Across a whole range of areas you're going to see the most pro-business, pro-growth, pro-jobs agenda ever unleashed by a government."