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Lloyds pursues AI-driven efficiency and shareholder returns while leaving workforce and branch reductions unquantified.
The Bank of England's latest survey reveals UK businesses are cutting jobs at the fastest rate in four years, a direct consequence of Chancellor Rachel Reeves' £25bn employer National Insurance raid. Despite promises of economic growth, the government's policies are systematically destroying the productive capacity they claim to champion.
While Chancellor Rachel Reeves claimed there was "really positive news" in Tuesday's jobs data, British employers eliminated another 8,000 positions last month and job vacancies collapsed to their lowest level since the pandemic lockdowns. This is what passes for economic success in modern Britain: unemployment stuck at a four-year high becomes an achievement worth celebrating.