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IT contractor tax
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Contractor vetting
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- Fresh Post September 13 IT contractors 'not making the most of their skills'
- Fresh Post September 10 IT suppliers meet with gov't to discuss cuts
IR35
- Fresh Post February 16 Civil Servants' Salaries Paid Direct to Ltd Companies.
- Fresh Post September 26 Dramatic decrease in IR35 Reviews
- Fresh Post March 29 IR35 announcement 'unsurprising'
- Fresh Post March 28 MacIntyre Hudson slams govt's IR35 position
Unemployment 'set to rise' in face of public cuts
IT contractors must brace themselves for a rise in the rate of unemployment, it has been claimed.
Jonathan Loynes of Capital Economics suggests that job squeezes in the public sector are beginning, with anything from 500,000 to one million jobs to be lost over the next year or two.
Yet apparently the "thin end of the wedge" has not yet been felt, as it will not be until the next fiscal year when government spending is actually reduced.
"Also, a lot of the tax measures have not yet been implemented, particularly the additional rise in VAT at the end of this year; so no, we haven't begun to feel the fiscal squeeze yet," Mr Loynes added.
He went on to say that this was further evidence that economic growth will slow down.
The British Chambers of Commerce envisages that total unemployment will rise from 2.46 million in the last quarter to a peak of 2.65 million (8.3 per cent of the workforce) in the first half of 2012.
Jonathan Loynes of Capital Economics suggests that job squeezes in the public sector are beginning, with anything from 500,000 to one million jobs to be lost over the next year or two.
Yet apparently the "thin end of the wedge" has not yet been felt, as it will not be until the next fiscal year when government spending is actually reduced.
"Also, a lot of the tax measures have not yet been implemented, particularly the additional rise in VAT at the end of this year; so no, we haven't begun to feel the fiscal squeeze yet," Mr Loynes added.
He went on to say that this was further evidence that economic growth will slow down.
The British Chambers of Commerce envisages that total unemployment will rise from 2.46 million in the last quarter to a peak of 2.65 million (8.3 per cent of the workforce) in the first half of 2012.
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