A few weeks ago, the Government unveiled their first full budget for 17 months (if you can believe that!), and the recruitment governing body the REC then published its response which we felt was interesting enough to garner a blog post from us!
Full Capital Expensing – “encouraging more business investment must also extend to people…in addition, as we move towards a Net Zero economy, government should go even further – ensuring that eligible plant and machinery extends to cover energy efficient investments.”
Tax avoidance – the REC is part of the consultation process, and will be pushing KMRC to include umbrella companies under this part of their policy. the REC also point out the lack of a ruling on IR35 / off-payroll working rules.
Childcare – extra support is welcomed after the REC made that one of it’s biggest asks prior to budget day.
Immigration – “encouraging to see government recognise the need to review the SOL (shortage occupation list) more regularly”
Addressing economic inactivity – finally, the REC rightfully pointed out the lack of a comprehensive plan to tackle skills shortages (other than the ‘returnerships’ strategy).
We ourselves have seen a growth in the number of vacancies being advertised so far this year, indicating generally decent economic conditions despite potential stormy waters ahead. The budget was an interesting look at the Governments’ priorities during the cost of living crisis and potentially difficult hiring landscape.
You can read more from the REC here. Also, please do get in touch to discuss how this could affect your hiring plans as we get further into 2023!
