On the first of January, the Labour Party announced its new deal for employees, contingent on their expected victory in the next election. Currently projected at an 88% likelihood of winning, businesses will need to review and update employee contracts to comply with the new regulations. Unsurprisingly, law firms are rapidly recruiting to bolster their employment teams faster than other practice areas.
With the UK still experiencing lower levels of labour market economic activity than before the pandemic, the North East faces the challenge of a growing divergence in growth compared to the southern regions of the country.
With the impact of climate change now becoming an ever-present reality, it is now being recommended that internal auditors globally make assessing the risk part of their purview, and within the UK specifically. Nonetheless, activity has been muted so far in 2024, with vacancies slowing down by 19.7% compared to last year.
With a new government now in situ, the big question is, what will this mean for the job market, and what are the opportunities for the astute? The Labour party have already put forward some plans regarding how they want to change employment law. Similarly the energy industry looks like it will be getting a boost. What are the other areas to watch for?
Is it the responsibility of Government to directly stimulate economic growth, or is it for them to create the environment where businesses invest themselves? Statism, or interventionist supply side policies are coming to the fore once more, and for the incoming Labour Government, there are a myriad of policy proposals designed to achieve growth.
