Debt problems may arise as Londoners fear redundancy

People living in the south of England could be facing debt problems in the future, as a survey has highlighted fears of redundancy.

Friends Provident found that more than a quarter (27 per cent) of Londoners are concerned about this prospect, while 34 per cent think their post may move overseas.

However, job security appears to be less of a problem in other parts of the country as just 11 per cent of workers in the north-east are worried they will be made redundant.

Chief executive officer of Friends Provident Trevor Matthews commented: “Despite southerners feeling downbeat about the future it is good to see northerners are positive about the decade to come. Employers in the south need to recognise this feeling of discontent.”

Last week, the Trades Union Congress suggested that government investment in support for the unemployed had helped joblessness figures remain static over the Christmas period, but warned against cutting back on this type of aid.

By Andy Mackay