School and summer holidays are finally over and everyone is back at work. No more Bank Holidays thank goodness. They are fun to have but disruptive to a working environment and the economy; so now we have up to Christmas to help Britain’s and our own economy before the next one.
Growth forecast figures produced by the OECD for the UK are exceptionally encouraging for the first time in 6 years. Mortgages are up dramatically albeit still at a lower level than in 2007.
The Construction sector, which is usually an excellent indicator for growth and indeed recessions operating on the FIFO (first in first out) basis, is also beginning to move in the right direction.
This is also a good sign for recruitment in other sectors as well. When the economy is growing companies often feel more confident about growing their own business and therefore have a need for extra staff. Let’s hope the financial sector starts to show that confidence. A new Governor of the Bank of England and now a “new” bank with a clean balance sheet and history on the High Street from next Monday – TSB, will hopefully help.
On the political front poor “Red Ed” must be blushing even more today after the announcement from the GMB Trade Union to cut the affiliation funds it gives Labour from £1.2m to £150,000 in the wake of row over reforms. Rumours are that more unions will follow suit. Ed can only hope that union members will now sign up officially for his party or he will be tapping the corporate sector and high fliers for his funding taking Labour back to the Blair era.
Are the Government’s fiscal policies working? I think slowly but surely. Although salaries are still low and the cost of living is not so low unemployment is gradually reducing and growth is commencing. We have a long way to go but the signs are encouraging.
Please let me know what you think.