REC response to Budget – 6/10 for jobs

Released on 21 March 2012
The REC has responded to the Chancellor's Budget and the impact the measures contained within it will have on the jobs market. Commenting on its new policy announcements, Kevin Green, the REC's Chief Executive says: “With today’s Budget, the Chancellor has taken solid steps in developing an internationally competitive tax regime in the UK to help kick start job growth. But it could have been bigger, bolder and braver, so I give this budget 6/10 for jobs. “The change in the 50p rate of tax sends a positive message to home-grown entrepreneurs that the UK rewards success and job creators. “Changes to corporation tax will encourage businesses to invest in their workforce. Plus, in continuing and speeding up year-on-year reductions the Chancellor creates certainty for businesses, which is so important in encouraging growth. “It was also good to see support for critical growth sectors such as oil and gas, life sciences and creative industries. “But there were some missed opportunities – such as specific measures to cut EU red tape, reduce regulations surrounding agency workers and to simplify the new pensions auto-enrolment system, all of which are necessary moves to help business and encourage job creation.”

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