State of the Market

[eek]

Inflation down to 2.3%, come on lads, start hiring...

interest rates 5.25% - it costs money to invest and until this Government is replaced the future is too uncertain

[Unix]

Inflation down to 2.3%, come on lads, start hiring...

Client co just did a big company wide lay off, contractors not effected is seems (so far). I think nothing changes until after the US/UK elections and a 2 or 3 interest cuts by the FED/BoE. Middle of next year before it starts getting back to good old days.

[Paracelsus]

Right, although there are two parallel developments, immigration and offshoring. You cannot isolate an economy to fight these structural changes (without dire consequences, such as persistent inflation and higher taxes).

It's worked pretty well for Japan. Hardly any inflation for decades, decent tax rates, reasonable house prices etc.
Of course, they have other issues, but ultimately their citizens are not flocking to emigrate so must be reasonably happy.

[dsc]

interest rates 5.25% - it costs money to invest and until this Government is replaced the future is too uncertain

I'd throw in expected tax rises as well, as apparently tax cuts are not advised considering how big the deficit is already...

[avonleigh]

Inflation down to 2.3%, come on lads, start hiring...

But higher than BOE was expecting. So now interest rates won't get cut to November it seems. Mint.

[CoolCat]

I agree. As a British born indian, born in the 70's. This has also effected me and my family as well other's. We have the same discussions that the influx of 'desi' indian nationals undercutting us is a cause for concern and admit we also are not happy about it.

thanks for the honesty

[Unix]

Client co just did a big company wide lay off, contractors not effected is seems (so far). I think nothing changes until after the US/UK elections and a 2 or 3 interest cuts by the FED/BoE. Middle of next year before it starts getting back to good old days.

Or maybe next month

[avonleigh]

General election July 4th. Some good news :-)

[rocktronAMP]

General election July 4th. Some good news :-)

I very much doubt that Off Payroll Worker Rules 2020/2021 will be repealed by Labour (https://www.gov.uk/guidance/understa...l-working-ir35).
Because of this legislation, it difficult for me to imagine the big investment banks rolling back the blanket bans of outside IR35 and also the jobs are not there in the economy yet. The announcement of the UK General Election, today, has really caught Sir Keir Starmer on the hop, because I was expecting 4th November 2024!

Like everywhere else in the world, I suspect the future economic outlook really does lie over the pond in November '24 between Biden and Trump.

The good news is that my consultancy and others I hear are in bidding wars from the government, tendering for contracts and other places for the last 3 weeks. I have not been involved in those bids this time around, but I can confirm there are more clients in April and May wanting work done. Hopefully both contract and perm opportunities might be happen sooner, be a knock on for some of you's on the bench. Keep your heads held up high and start practicing again your interviewing and technical skills.

[dsc]

I very much doubt that Off Payroll Worker Rules 2020/2021 will be repealed by Labour (https://www.gov.uk/guidance/understa...l-working-ir35).
Because of this legislation, it difficult for me to imagine the big investment banks rolling back the blanket bans of outside IR35 and also the jobs are not there in the economy yet. The announcement of the UK General Election, today, has really caught Sir Keir Starmer on the hop, because I was expecting 4th November 2024!

Like everywhere else in the world, I suspect the future economic outlook really does lie over the pond in November '24 between Biden and Trump.

The good news is that my consultancy and others I hear are in bidding wars from the government, tendering for contracts and other places for the last 3 weeks. I have not been involved in those bids this time around, but I can confirm there are more clients in April and May wanting work done. Hopefully both contract and perm opportunities might be happen sooner, be a knock on for some of you's on the bench. Keep your heads held up high and start practicing again your interviewing and technical skills.

Why would the IR35 changes be repealed now, especially under Labour? they need all the money they can get, so I wouldn't be surprised if more taxes are on the way and businesses are going to be the ones paying.

As for gov contracts, isn't everything going to be put on hold for now until after the election? new gov will be forming new groups for pretty much everything, so I can see a lot of unknowns on the horizon.