Stewart Segal ~ Non-executive Director of HIT Training gives his reaction to the Chancellor's Autumn Statement 2011.The Chancellor delivered an Autumn Statement that contained some tough messages today. Growth in the economy has slowed, borrowing has not reduced as much as the Government had hoped and there will be more job losses in the public sector. This follows the bad news on unemployment last week. However there were some measures that should help business, particularly smaller businesses. We know that the hospitality sector has a lot of small businesses and much of the growth on the economy will come from small and medium sized businesses.
Some of this extra support will come in the form of support for training and employment. The Government has announced a number of initiatives that will help businesses take on more people and especially young people that are currently unemployed. In 2012 there will be a number of wage subsidies available for small companies that take on young people and give them a job with training. Even more support will be given for businesses providing new Apprenticeship opportunities. HIT Training can help businesses develop these opportunities and access the training support to ensure that businesses maximise the opportunities to get support for their training.
The message is tough but within that businesses that put the emphasis on people and training their own staff will be the ones that survive these difficult times. Over the next few months let us hope that these initiatives to support business will help us develop opportunities for even more young people in the hospitality sector.
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