CHAMBER NEWS
Rapid recovery for jobs market
The East Midlands jobs market is picking up faster than just about every region in the country, according to the latest Government figures. Between January and March
this year, the region’s unemployment rate for people aged 16 and over was 4.9% – a 1% decrease on the previous three-month snapshot from October to December 2020. This trend is well above the
-0.3% change to the national unemployment rate and the joint-fastest decrease in people out of work proportionally alongside the North East. Scott Knowles said: “With
business confidence higher than at any point in the pandemic, companies are gearing up to capitalise on a full reopening of the economy and restarting pre-Covid projects that had stalled, both of which demand more resources. However, the Government
must be prepared to intervene further in the jobs market if necessary as the squeeze on business cashflow from any marked delay to the planned full reopening of the economy may trigger renewed job losses.”
Rail reform must make improvements
Making travel “easier, cheaper and more reliable” must be at the heart of the Government’s rail reforms, says the Chamber. New public body Great British
Railways has been set up to set timetables and prices, sell tickets and manage rail infrastructure. A new flexible season ticket will
also be launched for people who commute two or three times a week, which Scott Knowles identified as a key move due to an expected hybrid future of home and office working. He added: “The success of
Government’s plans will be judged by whether they make travel easier, cheaper and more reliable, which will be crucial in getting more people onto trains and more sustainable modes of public transport. “It’s important the move towards
greater public ownership isn’t allowed to hinder innovation, and it’s absolutely crucial that investment now follows to bring our ageing rail infrastructure into the 21st Century.”
28 business network June 2021
Economy takes centre stage in Queen’s Speech
A lifetime skills guarantee, commitment to levelling up and planning reforms were the cornerstones of a business-heavy legislative agenda announced during the Queen’s Speech. Chamber chief executive Scott
Knowles said it was “encouraging” to see the economy take centre stage as it signposts businesses where to invest – with a nod made to the East Midlands freeport as confirmation of National Insurance Contributions Bills detailed the tax breaks available. Commenting on the Skills and
Post-16 Education Bill, which gives people access to high-quality education and training throughout their lives, he said: “Closer ties between local employers and further education providers are crucial if we are to make
‘Closer ties between local employers and further education providers are crucial’
Reopening of hospitality is a key milestone
meaningful strides towards the upskilling agenda and have a tangible impact on productivity.” Meanwhile, Scott said the planning
reforms should consider the role of industries such as logistics, which require more land availability “to meet the significantly growing demand for warehouse space”, and urged the Government to show it was serious about the levelling up agenda by finally confirming HS2 Phase 2b in its entirety. “This is a ready-made tool that
has the ability to deliver some form of levelling up by increasing capacity for freight on our railways – something that’s crucial for an area that makes and moves a huge proportion of the nation’s goods – while delivering inward investment to the area around the proposed Toton HS2 hub station,” he added.
The reopening of indoor hospitality marks a “crucial milestone” in the roadmap to recovery, believes the Chamber. Scott Knowles said it provides “far more certainty
about what lies ahead” for businesses and communities. He added: “Hospitality businesses have been hit
harder than most during the pandemic, but we’ve argued all along that they will be viable in a fully functioning and open economy. So it’s vitally important our communities are ready to support them now they are able to once more.” He pointed out how the Chamber’s Quarterly
Economic Survey for Q1 2021 showed business confidence was returning strongly. A net 53% of
businesses expected their turnover to improve over the coming year and a net 35% anticipated profits to rise. Scott added: “For this belief to be maintained,
businesses will need to see today as just one more step towards normality. That means they require certainty about what the future holds, including the fourth stage of the roadmap commencing irreversibly as planned on 21 June.” Meanwhile, the Chamber also welcomed the
reopening of borders via the Government’s traffic light system for international travel. But Scott said clarity on quarantine guidelines was
vital and for costs of tests to be minimised, while calling for popular holiday destinations to be added to the green list as soon as it was safe to do so.
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