IT contractors working through an umbrella company might be set to benefit from a new round of government investment.
David Willetts, the universities and science minister, recently revealed that the government has earmarked £145 million to boost the e-infrastructure in the UK. The money is intended to drive innovation and growth in the computing, design and engineering sectors.
This should give rise to ample employment opportunities for highly skilled IT contractors as new projects get the green light.
Mr Willettts explained that significant improvements to our computing infrastructure are vital in order to drive growth and give companies the confidence to invest in Britain. The potential is there to make considerable improvements to the design and manufacturing process, which in turn will encourage innovation across a wide range of sectors.
This investment will also be extremely beneficial to the UK’s world-class research base. Universities will be able to conduct highly sophisticated research and store a lot more data, which will keep us at the forefront of science.
Meanwhile the CBI and PriceWaterhouse Coopers have confirmed that PAYE contractors specialising in IT are well placed to weather the economic storm for the remainder of 2011.
Research from the two organisations has discovered that although capital spending in the financial sector will decrease in the final quarter of this year, IT budgets will not be cut.
IT continues to have a crucial role to play for businesses in the finance sector who want to make efficiency savings. Companies will scale down the amount they spend on buildings, land, machinery and vehicles in order to protect their planned IT investment.
Building societies will be the biggest spenders on IT for the rest of this year as many of them intend to increase their spend on applications and systems in order to improve their client retention strategies.
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