BUDGET – HAYS
Investment needs to be supported by skills development says Nigel Heap, Managing Director at Hays UK & Ireland:“Hopefully the Budget announcement means we are another step towards renewing confidence amongst UK employers. We welcome the government’s commitment to boosting infrastructure spending and housing and hope that the investment in large-scale infrastructure projects is underlined by a desire to stimulate growth and create jobs.
When we see an upturn in the economy and more projects get the go ahead, professions that are already suffering from skill shortages, such as IT, oil and gas and engineering – will all witness a high demand for staff. We would like to see a significant investment in skills in these areas – short-term training and long term partnerships between business and education – in order to ensure we aren’t constrained by a lack of talent in the future.
We welcome the reduction in employer National Insurance Contributions. This will support the small companies across the UK, which play such a vital role in our economy. It should ease the financial burden of a new hire and encourage them to take on professionals who can drive their business growth.
We welcome the increase to loans that employers are able to offer tax-free to staff. They are an attractive benefit for staff and allow employers to provide much-needed support, without incurring additional costs.”