Investing private wealth into stock could get boost from the government

New plans by the government could be good news for people’s private wealth.

Chancellor of the Exchequer George Osborne and Treasury chief secretary David Laws have announced a number of plans to save money to help rebalance Britain’s deficit.

Savings are to be made through measures that include cutting property costs, freezing recruitment in the civil service sector and reducing costs in fields such as consultancy, which were deemed ’discretionary’.

It is hoped the civil service recruitment freeze during the remainder of 2010-11 will save at least £120 million.

According to Mark Bolsom, of Travelex Global Business Payments, the announcements helped to boost the value of sterling, which could prove positive for investors who use private wealth to invest in forex trading.

Sterling recently saw a rise against the euro in the trading markets after Mr Osborne gave details of his planned cuts and Mr Bolsom said the Treasury was being given ’the benefit of the doubt’ by the markets.ADNFCR-2318-ID-19797811-ADNFCR