Although the government spending cuts may not have a direct impact on everybody, it’s worth bearing in mind the underlying message that the coalition is trying to get through.
There is a mixture of cautious optimism and trepidation amongst freelancers as we start the countdown to 2011. We still have to see the full impact of the government’s CSR and a lot of umbrella company contractors are feeling anxious about their future prospects.
Although many people in the UK say they are worried about the state of their own finances, 67% of them have not made any changes to their saving habits since the recession started two years ago.
Umbrella company contractors should start considering their retirement now. Recent research, carried out by Defaqto, shows that 44% of adults in the UK are not confident that they will be able to sustain a reasonable standard of living once they retire. That’s a rise from 38% last year.
Contractors will no doubt be pleased to learn that the job market is improving and there has been an increase in the number of vacancies being advertised.
Contractors could find they have to compete against more people in order to secure a role after Adrian Marlowe suggested that temporary work is becoming a more attractive option for jobseekers.
Umbrella company contractors, freelancers and other self employed workers might not be too happy when they read the recommendations of an influential think-tank regarding Britain’s taxation system.
The latest employment statistics from the ONS showed a rise in the number of people who are working and this rise is in part attributable to an increase in the number of umbrella company contractors.