UK Businesses Face Mounting Pressures, Jobs Foundation Sees 2M New Jobs
Businesses across the UK are facing mounting pressures, with rising costs and regulatory burdens threatening their survival and expansion. Meanwhile, the number of working-age adults out of work is increasing steadily, raising concerns about the country's long-term prosperity.
The Jobs Foundation's recent 'Ladders of Opportunity' report highlights businesses that are creating pathways for disadvantaged people into work, with the potential to generate another 2 million jobs. However, the current Employment Rights Bill contains union-friendly measures that could hinder businesses' ability to create jobs and generate tax receipts.
To boost entrepreneurship, the government should consider allowing entrepreneurs to retain more of their profits. A future Conservative government may also seek to reduce the number of regulators and pause major new regulations until the economy is strong, as suggested by a lack of information about any specific politician currently calling for such a reduction.
Businesses are calling for politicians to address their concerns about consistency, a better regulatory and tax environment, and culture. City AM, meanwhile, continues to do an excellent job of promoting London and its capital markets.
Britain's long-term prosperity depends on work and growth, which can only come through successive businesses that need workers. To achieve this, the country should celebrate wealth creation, encourage risk, and not demonize failures that often precede successes. Addressing the rising costs and regulatory burdens faced by businesses, as well as the increasing number of working-age adults out of work, will be crucial in ensuring a strong and prosperous future for the UK.
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