Budget 2013: relief for the jobs market

While George Osborne’s ‘aspirational’ budget may not have convinced the entire nation, it has revealed some positive news for those still struggling to find work.

The Chancellor opened his speech with some encouraging statistics for 2013: an additional 600,000 people to be employed by the end of the year, 60,000 fewer benefits claimants and six private sector jobs being created for every public sector one lost.

All of this indicates some relief for the jobs market and a welcome reduction in the level of competition for individual roles. And with additional supportive measures such as the new personal tax and employment allowances, we are expected to see “more people in work than ever before,” according to The Recruitment & Employment Confederation (REC).

Locally, business leaders and politicians in Peterborough have largely embraced the budget and recognise its value in boosting the city’s economy. In particular, the reduction in National Insurance Contributions has received praise from small businesses and firms, who will now be in a better position financially to create jobs and start hiring.

It’s these kinds of measures that will help to generate a much needed boost of confidence in our local jobs market, confidence that the team here at ACR will naturally support and help to implement.

As REC rightly observes, “tweaks to the tax code that cut the cost of hiring, rewarding workers with more take-home pay and reducing the corporate tax burden on businesses are positive examples of some targeted steps that our industry should welcome.”

We’ll be working closely with our clients to encourage and develop future job roles, as well as providing our candidates with new and exciting opportunities for work in the local area.