McNulty says Wharf recession victims will be helped

The Future Jobs Fund encourages companies to bid for financial help in creating new roles.

But Mr McNulty said the victims in the Wharf would also be supported.

He said: "The help and support they need is in seeing whether [the financial sector] is something they want to get back into.

"Everyone knows, the financial sector will be a far less dominant place than before the downturn. Some will look for alternatives - classically teaching - and it's the task of Job Centre Plus to give them all the advice they need to make those decisions."

Mr McNulty also said he hoped there would be an end to the backlash against the public sector, which he said was having to fend off claims that people were "sitting pretty".

Those in government and council roles, as well as organisations such as the Financial Services Authority, are perceived to be protected, but the MP said this was unfair.

He said: "The fact is 80 to 90 per cent in the public sector are paid reasonably but not high.

"So the antagonism for people who think that public sector workers are being mollycoddled is unfair."

Mr McNulty had come to Tower Hamlets to discuss the Future Jobs Fund, which offers incentives for companies to come up with innovative roles.

The minister for employment and welfare reform was at Skillsmatch to see job seekers interviewed for new positions at the Tower of London.

He said: "We have particular concerns about young people coming on to the labour market and being unsuccessful. This is about trying to prevent a repeat of the '80s and '90s and more long term unemployment among young people.

"The link up between Tower Hamlets Council, Skillsmatch and the Wharf is unique.

That sort of interplay between corporate sector, council and a skills provider works really successfully."