Autumn Statement shows the hard work that needs to be done

(3 minutes to read)

REC: ‘The Autumn Statement was rooted in the reality of the country’s economic position - that alone is a step on from earlier in the Autumn. The need for growth is obvious’.

Yesterday’s Autumn Statement certainly had a different feel to it compared to the Mini-budget (and the U-turn that followed) announcement just a couple of months ago.

In order to create the growth and economic support the country so desperately needs right now, the government focussed on public spending restraint and tax rises.

In response to the Autumn Statement, Neil Carberry, REC Chief Executive said, “The Autumn Statement was rooted in the reality of the country’s economic position – that alone is a step on from earlier in the Autumn. The need for growth is obvious, and today’s statement showed the hard work that needs to be done.

“On both economic inactivity and workforce planning for our public services, admitting the problems we face is a long overdue step. The REC pointed these out in our Overcoming Shortages work earlier in the summer, and we are ready to help now. But solutions cannot be handed down from Whitehall – they need to be developed with businesses, workers, and public sector employers. That will be the test of this plan.”

Considering becoming an employee of Contractor Umbrella?

Give us a call on 01206 591 000 or email jaime.thorpe@contractorumbrella.com.

Email Jaime

Neil added, “The Government also needs to be ready to accept tough feedback, including when schemes are damaging the situation, like the Apprenticeship Levy which was not mentioned by the Chancellor today.

“We’ll look forward to working with Sir Michael Barber on a skills system that meets the needs of workers and companies, not just the Treasury. We’ll also be looking for more acknowledgement than we saw today of the vital role of services beyond finance in driving the UK economy.

“The Chancellor was right to reject large-scale immediate tax rises for businesses, who need to drive our recovery from here. And the promised changes on Business Rates represent a positive story – as does the renewed commitment on infrastructure.

“But high inflation is a huge challenge to businesses, including growing pay bills, so the freeze in National Insurance thresholds will need to be carefully watched, as it falls most heavily on hard pressed labour-intensive industries.”

To find out more about contracting please contact Jaime on 01206 591 000 or email jaime.thorpe@contractorumbrella.com.

You may also like to read

Vacancies hit record high, but new variant could impact recovery

With latest data showing that vacancies are at a record high, the CIPD warns that the Omicron variant could challenge ...

Read More

Spring Statement does little to reassure UK professionals

With the Spring Statement announced earlier this week, there have been criticisms that the government has missed the mark when ...

Read More

Hiring intentions high, but many employers unable to increase pay

Latest research shows that employers have managed to hire for their hard-to-fill vacancies by raising wages, but fewer plan to ...

Read More

Still thinking about if you should join Dolan Accountancy?

Give us a call on 01206 591 000 or email jaime.thorpe@dolanaccountancy.com

BLACK FRIDAY DEAL

One week margin free when you sign up with Contractor Umbrella today!
Hurry - Deal ends at midnight tonight.
CLAIM NOW
      Terms and Conditions: 
1 week margin free or £25 reduction on monthly margin. Online registration form must be completed by midnight 6th December 2019. Payment must be processed and margin redeemed by 31st December 2019.
      
close-link

dav1