Reacting to the publication, today, of the latest UK employment figures, which have seen unemployment levels fall by 63,000 to 2.33 million, Bernard Brown, partner and head of business services, KPMG Management Consulting, says:
“The latest jobs figures are just what the Chancellor would have wanted to see as he put the finishing touches to his Budget. Recent improvements to UK construction figures, combined with an increased demand for engineers, means that it won’t be a surprise to see employment rising across other sectors. In short, another month of falling unemployment figures is a sign that employers are confident enough to invest in the long term and that Britain is ready to work."
“However, just because more jobs have been created it doesn’t necessarily follow that people - or business owners - have more disposable income. That’s why the question on many peoples’ lips will be whether the Chancellor will help them with tax breaks such as a cut to National Insurance contributions or another rise in the personal tax allowance."
“The fact is that economic growth remains dependent on a combination of job creation and increased spending. Employees and employers alike will be watching the Chancellor intently to see how far he will go to facilitate both."
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Mike Petrook, KPMG Press Office
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KPMGLLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.