In order for the number of IT contractor jobs to be maximised, it is important that there are affordable finance and credit options being made available to employers.

John Wright, national chairman of the Federation of Small Businesses, has claimed that new figures showing a fall in lending to companies are "very worrying".

He said: "Access to affordable finance and credit is crucial as firms look to grow and create jobs as the economy recovers."

The key way to tackle this trend is to increase the amount made available through Regional Development Agencies, local councils and the Post Office, he claimed.

Mr Wright stated that companies which needed to borrow money were facing higher rates, which could suppress job creation.

A recent report published by the British Chambers of Commerce has highlighted that the most damaging tax rise that could be imposed on businesses is a rise in national insurance contributions.