Recruitment sector awaits Chancellor’s announcements to help job creation
Measures boosting job creation in the UK’s house building, transport infrastructure and science sectors, as well as an increase in the National Living Wage, are just some of the announcements expected in the Chancellor’s Autumn Statement later today.
The BBC reports some of the measures that will affect the world of recruitment in Chancellor Philip Hammond’s first Autumn Statement since succeeding George Osborne will include:
Cutting the rate at which benefits are withdrawn from people when they start work. This will take the form of changes to Universal Credit – the flagship single payment being rolled out across the UK – to reduce the ‘taper rate’ from 65% to 63%, meaning benefits will be withdrawn at a rate of 63p for every pound of net earnings.
- Increasing the National Living Wage to £7.50 an hour from April next year
- £1.4bn aimed at delivering 40,000 new affordable homes in England
- An additional £2bn a year for science research funding by 2020
- £1.3bn to improve roads.