As Russia re-elected Putin this weekend, the impact on the UK is being seen in more ways than one. Already, Grant Schapps is talking about the need for further defence spending as we move from a post-war to a pre-war world. Meanwhile, the avenues for money to be funnelled into London are slowly closing, and the determination to minimize access is clear. The decision to double the economic crime levy for very large companies from April, to £500,000 per institution is a reflection of that.
Government pressure on public sector spending sees vacancies drop. At the last count it was estimated there were nearly 5.9m people employed in the public sector, where just as importantly, that number has grown significantly over the last seven years.
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In today’s fast-paced world, technology continues to advance at an astonishing rate, revolutionising various industries and reshaping the way we work. For the UK labour market, this high-tech revolution has brought about significant transformations, particularly for agency recruitment owners. However, these shifts should be viewed as opportunities rather than challenges.
For retail and consumer goods and services, 2023 has proven to be a challenging year. The impact of the changes to VAT has meant that as tourism has returned, the luxury goods sector has flatlined, despite London having more tourists than ever. At the same time, quantitative tightening has resulted in challenges to household liquidity, which has meant there has been downward pressure on disposable incomes.
