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Recruiter TV News headlines Summary Welcome to HR & Recruiter TV, The latest news headlines,
brought to you by The Technology In Recruitment Alliance and sponsored by Smart Recruit Online,
CV Library and APSCo. In this month's news headlines bulletin
we start with the budget review: Chancellor George Osborne has now announced
his 2013 Budget plan to Parliament. So what does this mean to recruiters? Here is a quick
overview of the key points: The UK economy is forecast to grow 0.6% in
2013 a downgrading from 1.2% in December. 600,000 more new jobs are expected this year
than at the same period last year Corporation tax will be cut by one percent
to 20 percent The New employment allowance is set to cut
National Insurance costs by £2,000 for every firm from April 2014.
The Single flat-rate pension of £144 a week will be brought forward a year
And finally the government is set to implement new rules to block the measures that many
offshore based umbrella companies have taken to avoid tax. This new legislation will put
agencies and contractors at risk of HMRC reclaiming any unpaid tax debt for up to 7 years retrospectively.
It has been found that Britain is on the edge of a triple dip recession after figures have
confirmed that the economy contracted by 0.3 % at the end of 2013. The Resolution foundation
has found that 850,000 new jobs are needed to regain pre recession peak. The UK adult
population has grown by 1.7 million since 2008 leaving the employment rate 1.7% lower
than in 2008. The Bank of England has told major UK banks
that they must raise a total of £25 billion in extra capital by the end of 2013. UK banks
and building societies could potentially loose billions over the next three years due to
"high risk" loans in the UK commercial property sector and vulnerable euro zone economies.
It has been announced that £2 billion worth of funding will be injected into the aerospace
industry over the next 7 years. £1 billion will be funded by the government which will
then be matched by aerospace companies. This funding will protect around 111,500 jobs and
will be used to create a UK Aerospace Technology Institute.
The UK is set "to toughen" the European migrants' benefits rules .According to David
Cameron Europeans will need to prove they are "genuinely seeking employment in order
to claim jobless benefits for more than six months and he added it would be one of the
many measures that will be taken to ensure people come to the UK "for the right reasons".
The home office has announced that they will be relaxing criminal record checks for job
applicants. This comes following a court of appeal ruling in January that found that current
checks do not comply with human right laws. In England and wales old and minor cautions
and convictions will be removed from the information revealed in job applications however all serious
violent and *** offences will still be disclosed. Convictions resulting in a non-custodial
sentences will be filtered from record checks after 11 years for adults and five and a half
years for young offenders.
The UK's largest Japanese employer Fujitsu with around 14,000 staff is set to inject
another £800m into British business in order to halve the shortfall across its pension
schemes in order to free up cash for investment plans. The £800 million will be split between
three pension funds, benefitting over 21,000 current and former employees.
Leading recruitment job board, CV Library, has received the creative online marketing
award for the second year running at the OnRec awards 2013. Their innovative online advertising
campaigns, re-targeting strategies, partner network and new marketing plans have all played
a major part in winning this award. The job board has seen 300,000 new CVs uploaded to
their database in January across 70 sectors leading to over 1.5 million monthly job applications.
This is brought to you by The Recruitment In Technology Alliance and sponsored by Smart
Recruit Online, CV Library and APSCo.