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Business News Wales
a day ago
- Business
- Business News Wales
'Resilient' Welsh Businesses Remain Positive About Economic Outlook
Welsh business leaders have confidence in the strength of the economy and in the growth expectations for their own businesses despite high operating and people costs and the expectation of additional taxes later this year. Key indicators from Grant Thornton UK's latest Business Outlook Tracker show that business leaders are optimistic about the UK economy, with 86% of respondents expressing a positive outlook. While UK labour statistics in June reported falling vacancies and increased unemployment, recruitment investment intentions remain strong, with 96% of businesses expecting to either increase or maintain investment in recruitment over the next six months. Mid-market businesses regard high operating and staffing costs as a significant challenge, potentially exacerbated by the increases in employer National Insurance and National Minimum Wage contributions introduced in April. Among Welsh respondents, 52% said these changes had caused them to reduce or freeze hiring, and 42% said they'd had to cut jobs. The majority (66%) also expect further tax increases before the end of the year. Despite these pressures, businesses feel supported by government strategy and are optimistic about their future prospects: 68% of respondents agree government policy promotes economic stability. 78% agree government policy support business growth. 80% agree that the Industrial Strategy will support the growth of their business. 84% of the mid-market businesses expect revenue growth for the next six months to remain steady 64% expect profits to increase in next six months Alistair Wardell, Partner at Grant Thornton UK and Head of Restructuring in the South of England and Wales, said: 'Welsh businesses have learnt to treat uncertainty as the new normal. From steel and manufacturing to tourism and agriculture, companies across Wales are showing remarkable resilience despite ongoing challenges from trade disruptions to policy changes at home. 'That's not to say it's been easy. Welsh businesses continue to grapple with rising costs, particularly following the National Insurance and National Minimum Wage increases in April. Whilst there's cautious optimism about government direction, many expect further tax pressures ahead. 'What's encouraging is that Welsh businesses are actively preparing for growth, with recruitment intentions remaining strong. Companies are demonstrating real adaptability – adjusting pay structures, carefully managing prices, and making strategic investment decisions to protect their margins.'
Edinburgh Reporter
10-07-2025
- Business
- Edinburgh Reporter
East Lothian Council to create two apprenticeships to help plug gap in workforce
East Lothian Council is creating two apprenticeships to help plug a gap in its workforce after struggling to fill posts. School leavers will be invited to apply for the modern apprentice posts in the council's road services department which will run for two years and pay the national minimum wage. Despite admitting there may be no job within the council at the end of the placement, a report to council said the opportunity would give unemployed young people the experience and skills to find work once completed. Setting out the reasons for the apprenticeships, the report said: 'Within road services we currently have a number of vacancies including one road officer and one senior road officer. 'We have tried to fill posts but have been unsuccessful. The two modern apprenticeship 'Trainee Roads Officers' would equip unemployed recent school leavers with the necessary skills and experience for them to compete more effectively in the current employment market. 'They would also greatly assist road services at a time of reduced resources and increased workloads. The 'Trainee Roads Officers' will cover distinct areas of project work across the teams within road services. The post holders will be involved in a number of projects and will assist officers and team managers in the delivery of this service. 'This will include but not be limited to producing designs, assessments, reports, drawings and contract documents for Engineering works and assisting with the supervision of works.' The posts will be open to male and female school leavers aged between 16-19 with an extended age of up to 29 for those who are disabled or care-experienced . Applicants must reside in East Lothian. Apprentices will be paid the National Minimum Wage which is currently £7.55 per hour for under 18s, £10 an hour for 18-20 year olds and £12.21 per hour at age 21 and over. The report said the trainees would also achieve an HNC Civil Engineering qualification working with Edinburgh College and with mentoring support from road services. It added: 'If no post is available within the Road Services team to achieve positive destination beyond the apprenticeship period, East Lothian Council will work with the individuals to assist them in securing employment; within the wider marketplace including both agency work and more permanent employment.' By Marie Sharp Local Democracy Reporter Like this: Like Related
Edinburgh Live
10-07-2025
- Automotive
- Edinburgh Live
New East Lothian Council apprentice posts to help fill road services roles
Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info East Lothian Council is creating two apprenticeships to help plug a gap in its workforce after struggling to fill posts. School leavers will be invited to apply for the modern apprentice posts in the council's road services department which will run for two years and pay the national minimum wage. Despite admitting there may be no job within the council at the end of the placement, a report to council said the opportunity would give unemployed young people the experience and skills to find work once completed. Setting out the reasons for the apprenticeships, the report said: "Within road services we currently have a number of vacancies including one road officer and one senior road officer. "We have tried to fill posts but have been unsuccessful. The two modern apprenticeship 'Trainee Roads Officers' would equip unemployed recent school leavers with the necessary skills and experience for them to compete more effectively in the current employment market. "They would also greatly assist road services at a time of reduced resources and increased workloads. The 'Trainee Roads Officers' will cover distinct areas of project work across the teams within road services. The post holders will be involved in a number of projects and will assist officers and team managers in the delivery of this service. "This will include but not be limited to producing designs, assessments, reports, drawings and contract documents for Engineering works and assisting with the supervision of works." The posts will be open to male and female school leavers aged between 16-19 with an extended age of up to 29 for those who are disabled or care-experienced . Applicants must reside in East Lothian. Apprentices will be paid the National Minimum Wage which is currently £7.55 per hour for under 18s, £10 an hour for 18-20 year olds and £12.21 per hour at age 21 and over. The report said the trainees would also achieve an HNC Civil Engineering qualification working with Edinburgh College and with mentoring support from road services. It added: "If no post is available within the Road Services team to achieve positive destination beyond the apprenticeship period, East Lothian Council will work with the individuals to assist them in securing employment; within the wider marketplace including both agency work and more permanent employment." The posts details and how to apply can be found here
Daily Record
04-07-2025
- Business
- Daily Record
Labour Government report card as Keir Starmer marks one year in power after torrid 12 months
Labour has endured a difficult year in office since returning to power at Westminster for the first time since 2010. But how is the UK Government performing on the big issues? COST OF LIVING UK inflation peaked in 2022 at an eyewatering 11 per cent. The cost of food staples more than doubled. Inflation was falling before Labour took power. But a spike in council tax bills and NI on employers in April saw inflation climb back to 3.5 per cent. The rise is partly down to increases in airline fares and the cost of eating out. Trump's tariffs don't help either. But the bottom line is many people are still struggling to make ends meet. 4/10 ECONOMY Economic growth was made the new Government's top priority after it took office. The economy had fallen into recession at the end of 2023 under the Tories but rebounded in the first half of 2024. Since then, growth has been sluggish. Although the economy grew more than expected in the first quarter of 2025, analysts warn that the disruption and uncertainty caused by the US trade tariffs which began in April could limit growth in the later part of the year. 5/10 WINTER FUEL PAYMENT When Gordon Brown first introduced the winter fuel payment, pensioners were the worst-off group in society. That's no longer the case. There is a valid argument that the richest pensioners don't need a payment to help with their heating bills. But the decision by Rachel Reeves last summer to suddenly remove the benefit from 90 per cent of pensioners, with no warning, was a political disaster. It put the new Government on the backfoot and severely damaged trust in Labour. 1/10 DEVOLUTION Relations between Holyrood and Westminster reached an all-time low when Boris Johnson and Nicola Sturgeon were in power and scarcely improved under Rishi Sunak. But Keir Starmer has struck up a more positive working relationship with John Swinney. The UK Government has promised to help Holyrood to mitigate the impact of two-child cap benefit cap in Scotland, without yet committing to scrapping it elsewhere. There was also constructive talks on Grangemouth - although not enough to save the refinery from closure. 7/10 DEFENCE When Labour took power in 1997, the party enjoyed the luxury of a booming economy and relative peace across Europe and the Middle East. But the reality in 2025 is very different. An aggressive Russia remains at war in Ukraine. The Middle East teeters on the brink. Europe can no longer rely on the US in the Trump era. Starmer has recognised this and pledged to increase defence spending. In an era of already tight public finances, it's a tough choice. But there is little alternative. 7/10 MINIMUM WAGE Labour promised to raise the minimum wage for workers, and on this at least it has delivered. Three and a half million low-paid workers saw their wages rise on April 1. The National Living Wage paid to over-21s went up by 6.7% and the National Minimum Wage for 18 to 20-year-olds rose by 16%. A higher hourly rate called the Real Living Wage, paid voluntarily by some UK businesses to half a million people, has also gone up. 8/10 WELFARE Labour argued too many people were becoming reliant on benefits at a young age instead of finding work. But plans announced by Liz Kendall, the Work and Pensions Secretary, to reform the system were quickly viewed as an exercise in saving the Government money by taking away benefits from the disabled. Facing a major backbench rebellion, and possible defeat in the Commons, the Government was forced into a rapid climbdown. Spending on welfare will now continue to rise. And money will need to be found from elsewhere to pay for it. The Government's authority has been weakened in the process. 2/10
RTÉ News
02-07-2025
- Business
- RTÉ News
Further closures and jobs losses if VAT not reduced for food-led hospitality
The Restaurants Association of Ireland is warning of further closures and job losses if the VAT rate for food-led hospitality businesses is not reduced. The RAI said it is "essential" that the Government reinstates the 9% VAT rate, which is currently at 13.5%. The Government has pledged to reduce the rate. In its pre-budget submission, which is being launched today, the Restaurants Association of Ireland said the coalition "must fulfil its promise to reinstate the 9% VAT rate for food-led hospitality businesses or face the consequences of further closures, job losses, and long-term damage to Ireland's tourism economy, particularly in rural towns and villages." The RAI said such a move is "needed to safeguard" thousands of restaurants, cafés and gastropubs across the country, as it said over 200 restaurants have already closed in 2025. It said the current 13.5% VAT rate in Ireland is "one of the highest VAT rates on food services in the EU". "The estimated €545 million cost of restoring the 9% VAT rate should be viewed as an investment, not a loss." The CEO of the Restaurants Association of Ireland is calling for Budget 2026 to be "a turning point". Adrian Cummins said temporary measures are not enough. "We need a pro-SME, pro-hospitality budget that supports survival now and enables long-term growth." "Bringing back the 9% VAT rate, as promised by Government, is essential. Tánaiste Simon Harris called it a solemn commitment, now it's time to deliver," Mr Cummins added. The RAI is also calling on the Government to align future increases to the National Minimum Wage with inflation. It is also seeking a halving of the employer PRSI rate for one year "to relieve cost pressures" and urgent insurance reform to address what it describes as "unaffordable liability premiums".
