IPSE, the Association of Independent Professionals and the Self Employed, has today welcomed a report by the Bank of England’s structural economic analysis division, that confirms the boom in self-employment in the UK is the result of a structural change in the UK’s workforce.
Simon McVicker, Director of Policy and External Affairs, said:
“We welcome the report from the Bank of England that confirms the boom in self-employment reflects a structural change to the economy and adds to the mounting evidence that the rise in self-employment is the continuation of a long term shift in the labour market.
“With the report categorically stating that the increase in those working for themselves has not happened out of economic necessity, it is hoped the report will sway those, most notably the Labour Party, still clinging to the belief that the rise of self-employment represents increased insecurity in the labour market.
“The report supports the findings of our own research that has repeatedly shown the UK’s 4.6 million independent professionals to be masters of their own destiny rather than becoming their own boss out of enforced or hidden unemployment.
“The self-employed now constitute almost 15% of the workforce and have been the catalyst for economic growth and recovery in the UK and it is high time they are celebrated for this fact”.
