How the Spring Budget 2017 may impact the workplace

Chancellor Philip Hammond has delivered the Spring Budget 2017, which means good news for small business, wages and plugging the UK’s talent shortage.

According to the Government website, some of the key measures include; investment in technical education for 16- to 19-year-olds rising to over £500million, a £300million investment for new academic research placements including PhD places and creation of new fellowships, and loans for part time and doctoral students from 2018.

CIPD Skills Adviser, Lizzie Crowley comments: “It’s great to see recognition that tackling the UK's skills challenges is a top priority. However, the majority of the workforce of 2030 is already in work, and whilst the £40million investment in lifelong learning is welcome, we question the balance of government spending priorities, given the focus needed on helping people already in work.”

The Government also recognises the need to increase the number of returnships for those who have been on a career break, with £5million set aside for those that need help.