Chancellor George Osborne's Budget was filled with numerous policies, many of which affect businesses.
In response, Chris Jones, Chief Executive of the City & Guilds Group, warned:
‘George Osborne has a clear focus on boosting productivity in today’s Budget. But right now, businesses have so many policies hitting them at once, from pension auto-enrolment to the upcoming apprenticeship levy, changes to tax exemptions and new living wage. Despite Osborne’s claim that this is a Budget for long-term stability, it may not feel like it to businesses.
‘Combined, the policies will create challenges for UK plc, leading to instability and additional costs. It will also mean that employers have to make tough decisions about how they spend their already limited training budgets. The problem is, if employees can’t receive the training they need to perform their jobs well, it will negatively impact the country’s productivity, now and in the future.
'In today’s fast-moving world, making sure the UK’s workforce has the right skills to respond has never been so important. The businesses who will do best at navigating the changes are those that think about workforce development in a long-term, holistic way.’
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Notes to editor
About the City & Guilds Group:
- The City & Guilds Group is a leader in global skills development. Its purpose is to enable people and organisations to develop their skills for personal and economic growth.
- Backed by a Royal Charter, the City & Guilds Group has more than 135 years’ worth of experience in making sure that people are prepared to contribute to successful businesses and thriving economies.
- The City & Guilds Group partners with more than 200 companies to develop the skilled workforces that they need, and invests in learning technologies to help people learn whenever and wherever they can.
- The City & Guilds Group is made up of City & Guilds, ILM, City & Guilds Kineo and The Oxford Group:
- City & Guilds develops programmes of learning, learning technology, certification and assessment, to support colleges, training providers and governments.
- ILM helps individuals, education providers and businesses improve the standards of leadership and management through qualifications, accredited training and specialist member services. ILM awards qualifications to over 95,000 managers across the world every year.
- City & Guilds Kineo is a global workplace learning company. It offers a fresh approach to elearning management systems, apprenticeships and managed learning services.
- The Oxford Group provides bespoke management training, leadership development and executive coaching to the world's leading companies.
- Combined, the City & Guilds Group operates in over 80 countries, through 10,000 training centres, delivering qualifications in 26 different industries.
- For more information about the City & Guilds Group visit: www.cityandguildsgroup.com.