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What do the Election Results mean for the UK job market?

It’s been nearly a month since the Conservatives won with a clear majority vote. With David Cameron taking the reins for a further 5 years, what does this mean for the UK job market?

Plans to scrap jobs-tax altogether (national insurance contributions) for under 21s making it easier for companies to extend job offers to young people. Alongside this, a cut in the jobs tax will be implemented for the rest of the UK’s workforce, saving businesses up to £2,000!

There are also plans to eradicate exclusivity clauses in zero-hour work contracts. Many zero-hour work contracts contain a clause that prohibits an employee working for another company besides itself, despite the fact that zero- hour contracts do not guarantee work. Eradicating this clause seeks to prevent the abuse of employees by such contracts.

Minimum wage is to increase to £6.70, for employees 21 and over by the 1st October 2015 and a proposal to scrap income tax for those working at least 30 hours a week and earning the National Minimum Wage.

There are aims to help create 2 million new jobs over the next 5 years, as well as a further 3 million new apprenticeships – increasing the number of people in work and broadening the number of opportunities.
With a particular focus on youth employment, more businesses are expected to hire apprentices, improving the options for employment and training for the younger generation.

Investing in an improved infrastructure through better roads, rail services and broadband facilities/speeds, making it easier for businesses to reach customers, clients and employees. This may also increase the chances of candidates attending interviews and arrive to work on time.

Increasing the entitlement of free childcare for working parents from 15 hours per week, to 30 hours per week for children aged between 3-4 – enabling parents to increase working hours and afford mortgages etc. which is good news for the economy.

Of course, this is a small list of the manifesto and we’re sure there’ll be more to talk about in the coming months, but for now, let’s wait and see what the Government will deliver!

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