Britain’s ageing population could boost economic growth – if we adapt June 25, 2015 The UK and other western economies face the prospect of an ageing population. As the post-war baby boomers grow older, and people live longer, the number of over-65s in the UK is expected to nearly double by 2050. This is often seen as a problem for society, leading to higher health care and social costs, [...]
The employment landscape has never been so good for entrepreneurs June 24, 2015 THERE is a myth that should be dispelled. Despite many commentators and business owners believing the contrary, it’s relatively easy to hire and fire employees in Britain. This myth gained particular currency prior to recent legislative changes but still persists. Since 6 April 2012, employees must have been employed by a company for two [...]
Bank of England monetary policy committee could split over timing of first interest rate rise June 24, 2015 One of the MPC’s nine members, Dr Martin Weale, has indicated that the Bank of England should be prepared to raise the cost of borrowing as early as August. The comments indicate the monetary policy committee could soon face a split over when to raise interest rates from the historic low of 0.5 per cent they [...]
New FCA and PRA bonus clawback rules: The UK now has the toughest bank pay rules in the world June 23, 2015 New rules to claw back bankers’ bonuses for up to 10 years threaten to undermine London’s appeal to international financiers, consultants warned yesterday, in the latest salvo against big banks from UK regulators. Read more: Bank bonus clawback extended to 10 years by UK regulators The clawback rules comes amid growing tensions between [...]
Tube strike could lead to more home working disputes: How businesses should plan around disruption June 23, 2015 London is braced for the worst tube disruption in a decade next month if Tube workers and their unions decide to go ahead with planned strike action. For some employers in the City and elsewhere, this could lead to more workplace disputes if employees abuse permission given to work from home. The always-on culture of [...]
Clawback extended to 10 years as UK regulators Prudential Regulation Authority and Financial Conduct Authority mull negative bonuses June 23, 2015 Bonuses could be clawed back for as long as a decade under new rules published by City regulators today. The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) confirmed they were pushing ahead with rules for a wider seven-year claw-back period but that an added three years is being considered for senior managers. [...]
City watchdogs expected to curb restrictions on bonus buy-outs June 22, 2015 Regulators will bow to City warnings that new pay rules threaten to undermine the UK’s competitiveness when they unveil proposals to change the way bonuses are treated when bankers quit their jobs to join a rival firm. The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) are expected to announce today that they have [...]
How to retain female talent in the workplace: Offering agile working and tailored support is crucial June 22, 2015 Lord Davies’s report, published in March this year, showed that representation of women on FTSE 100 boards has almost doubled in the past four years to 23.5 per cent. The government’s target for 25 per cent of board positions to be held by women by the end of this year is in sight, and there [...]
£9,000 university tuition fees push students toward careers June 21, 2015 A new study out today finds that the first graduates to pay £9,000 per year in university tuition fees are more career-oriented, organised and ambitious than their predecessors. The study, conducted by independent researchers High Fliers Research, was based on face-to-face interviews with more than 18,000 final-year students at leading universities across the country. Researchers [...]
Retailers send George Osborne their budget wish list June 21, 2015 British retailers are calling on the chancellor to eschew the living wage and introduce new measures to boost productivity in next month’s emergency budget. In a new submission to chancellor George Osborne, the British Retail Consortium (BRC) said that it wants the government to “work with the retail industry to ensure that employees are [...]