490000 jobs lost in the UK

With huge budget cuts taking place, the Biritsh government has decided to slash 490000 jobs within the next 4 years. Those 490000 jobs will be eliminated from the public payroll, in hopes of becoming more economically efficient. The government is seeking to raise revenue through increased taxes, specifically for the banking industry. Chancellor George Osborne said that "those with the broadest shoulders will bear the greatest burden," meaning that greater taxes will be imposed on those banks with more funds.