Ingrid Waterfield, Director in KPMG’s People Powered Performance team comments on the summer budget 2015.
“If the government can kick start and sustain growth, then this could reduce the need for deeper cuts further down the line.
“In order to achieve this it is crucial that we create conditions which stimulate employment, and give businesses the confidence they need to invest further in their workforce and train up the next generation of skilled staff.
“Increasing the National Insurance contributions allowance will free up much needed cash for businesses, but it’s vital this is not just thrown into the profits pot but invested back into the workforce in the form of training, development and recognition. This in turn will improve staff engagement and morale, and help businesses to improve their overall productivity.”
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Zoe Sheppard, KPMG Corporate Communications
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 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.