“With The Chancellor’s acknowledgement, we are officially in a recession, which makes today’s budget more important than ever. While the freeze in the personal allowance threshold and the fall in the threshold for highest earners means that vital local and national structures will get the funds they need, it also places many workers into a higher level of tax, the highest tax burden we’ve seen in at least 70 years. Not only will businesses need to be ready to pivot payrolls to such changes, they also need to be ready to support their employees in tackling these financial changes during a time of continued financial constraint.
“A focus on work, be it a return, progression, or preparing for a first entrance into the workplace, is a welcome investment. The UK needs to do more to not only fill the vacancies that have plagued businesses in the last year, but ensure we are ready for the challenges to come. The UK’s largest organisations are struggling with a skills shortage and are unable to find talent with the appropriate skills to remain competitive. To ride the waves of this recession and focus on growth for the future, one which the Government is pushing for with today’s budget, we need serious focus and investment in building a workforce that is skilled and ready for the challenges ahead.”