Despite high unemployment in the UK, 75% of businesses are struggling to recruit the top talent they need. This could spell good news for contractors working through an umbrella company.
The Bank of England says that the quantitative easing programme that was rolled out after the credit crunch boosted the UK’s economy by 2%, adding weight to demands for the Bank to print more money.
The Migration Advisory Committee has said the UK economy could be permanently damaged if the government persists in restricting immigration for skilled workers from outside the EU.
Vince Cable has announced that the coalition intends to scrap or simplify in excess of 160 onerous regulations to free contractors and small businesses from unnecessary bureaucracy.
The Office for Budget Responsibility says that tougher austerity measures and higher taxes are needed if Britain is to achieve long term fiscal sustainability.
Figures released last Wednesday showed a 0.5% increase in GDP in the first quarter of 2011. This balanced out the drop of 0.5% in the final quarter of last year, which was blamed on the abnormal weather we saw in December.
Low-income households and the elderly have been badly hit by the recession, according to research conducted by the BBC and the Institute for Fiscal Studies.
As budget day looms ever closer, various organisations have been urging the government to create an environment that supports entrepreneurs, small businesses and umbrella company contractors.
The government needs to concentrate on prioritising economic stability in this month’s budget, according to the Federation of Small Businesses. A call that is also likely to be endorsed by umbrella company contractors.
On Monday, George Osborne and Vince Cable announced a fundamental review of the steps all areas of Government are taking to promote the best conditions to encourage growth in the private sector.