Reply to: State of the Market

[rocktronAMP]

Why would the IR35 changes be repealed now, especially under Labour?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.

That was my point. Anyone hoping for a Liz Truss style reform if Labour win the UK GE is going to be very disappointed. Not. Going. To. Happen.

As for contracting and tendering, these are happening now, so the attitude will be "Ok we now to close this tendering A.S.A.P and get something over the line". Business 2 Business has to continue onwards, at the very least, the BAU business as-usual parts of it. I think the reverse. I agree with you Dsc that today is too late for the procrastinators who were just about release a tender RFC; prevaricated they did, snoozed and they just lost. Ha!

[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I very much doubt that Off Payroll Worker Rules 2020/2021 will be repealed by Labour (https://www.gov.uk/guidance/understa...l-working-ir35).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Why would the IR35 changes be repealed now, especially under Labour?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.

[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.

[avonleigh]

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

[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

[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

[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.

[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...

[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.

[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.

[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

[unixman]

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

[Peoplesoft bloke]

Sorry to hear that Artois.

Yep Tesco paying £13 an hour plus you get staff staff discount on your shopping…and no stress/hassle …

As I mentioned before, those Tesco jobs aren't easy to get because everyone assumes they can walk into one. Also I'd challenge the no stress/hassle claim. Tesco expect everyone to do multiple jobs - they don't employ pure shelf stackers and you will be required to be hassled by customers and bosses a lot.

[SussexSeagull]

This isn't offshoring which, I agree with others, we can do little about. This is onshoring, where temporary migrant workers can afford to significantly undercut resident workers due to the short term nature of their stay in the country. We definitely can do something about that by not issuing visas unless the relevant skills can't be found in the resident population at a genuine prevailing local market rate and by being far more stringent on checking all aspects of the worker's skills, how they're engaged, paid, taxed etc., and policing how companies try to find the skills they need from the resident workforce. But that doesn't benefit large corporates or political party donations, so political will is weak and it's never really happened.

I have absolutely no problem with people who've come here completely legally and chosen to make our country their home; they'll bring their skills, new ideas, new blood, raise families, pay taxes and hopefully help our economy thrive. As I mentioned before, the only issue is how many citizens can the UK reasonably accommodate?

I didn't say immigration was offshoring, I just gave my thoughts on them in the same section.

[Cookielove]

Sorry to hear that Artois.

Yep Tesco paying £13 an hour plus you get staff staff discount on your shopping…and no stress/hassle …