Top UK firms to reveal wages for male and female employees as David Cameron vows to “end gender pay gap” July 13, 2015 Large companies will soon be required to publish what they pay male and female employees, under new rules to be announced by Prime Minister David Cameron today as part of a commitment to “end the gender pay gap in a generation”. The rules will apply to companies with more than 250 workers. A consultation with [...]
Are languages useful in business? With few bilingual people in the UK, there are rewards for those willing to learn July 13, 2015 Foreign languages have long been labelled an “asset” for anyone wanting to succeed in business. But for many native English speakers, the status of their mother tongue as a lingua franca can make learning a second language seem pointless. Aside from the ability to socialise with non-English speakers and the cultural value of being able [...]
CBI: Apprentice levy won’t fix skills crisis July 12, 2015 Britain’s top business group will lash out at the government’s new apprenticeships plan today, arguing that the move is “unlikely” to help fix the UK’s skills shortage. The Confederation of British Industry (CBI) publishes a survey this morning showing that over half of firms are afraid that they will not be able to find staff [...]
Better apprenticeships will transform UK productivity July 12, 2015 Of recent proposals to boost growth and productivity in London, by far the most controversial is the Airports Commission plan to build a third runway at Heathrow. The government is split on the issue. Both Boris and his likely successor as Tory candidate for mayor, Zac Goldsmith, are bitterly opposed. Both represent west London constituencies [...]
Rationale of bank surcharge under fire as IFS think tank blasts George Osborne’s 2015 July Budget July 9, 2015 A leading think tank has criticised the volatility of the UK’s bank levy and the thinking behind a new bank surcharge as part of a wider assault on what it described as a “deeply disappointing” Budget. There would have been 13 different bank levy rates in 10 years by 2020 under Wednesday’s Budget plans, [...]
City plays down living wage cost fears but hospitality industry could struggle July 9, 2015 Analysts predicted yesterday that UK retailers would largely dodge the effects of the new national living wage but warned the leisure and hospitality industry would face tough times. In a surprise move on Wednesday George Osborne announced a new minimum wage of £7.20 per hour from April next year for workers over the age of [...]
July Budget 2015: From the pensions expert to the PwC economist, reactions to the chancellor’s statement July 9, 2015 THE BUSINESS GROUP Confederation of British Industry director general John Cridland Firms will welcome measures to boost investment but will be worried about paying living wage. “This is a double edged Budget for business. Firms will welcome measures to balance the books and boost investment, but they will be concerned by legislating for wage increases [...]
July Budget 2015 at a glance: From a new tax-free dividend allowance to the raid on buy-to-let landlords and new inheritance tax rules July 8, 2015 The chancellor outlined £12bn of welfare cuts, introduced new inheritance tax rules & vowed to crack down on tax avoidance. UK ECONOMIC OUTLOOK ● The UK is expected to be the fastest-growing advanced economy again this year. The Office for Budget Responsibility (OBR) expects the economy to grow by 2.4 per cent in [...]
July Budget 2015: Living wage bill hurts retailers and small firms July 8, 2015 Retail and hospitality industry insiders warned yesterday that their sectors face a huge rise in labour costs after a Tory pledge to introduce a minimum wage of £9 for over-25s by 2020. From April next year, businesses will be required to pay £7.20 per hour to workers over the age of 25, rising to [...]
July Budget 2015: Will George Osborne’s new national living wage hit the number of people in work? July 8, 2015 Sam Bowman, deputy director of the Adam Smith Institute, says Yes. There is lots of research into what the minimum wage does to jobs. Of the 103 papers reviewed by economists David Neumark and William Wascher in a 2006 study, most of them showed that raising the minimum wage reduces long-term employment. Of the 33 [...]