Open

Latest news

Explore insightful perspectives and expert advice on finance

Home |Latest news |Economic growth adversely affected by 'shrinking workforce', committee warns

Latest news

Browse by category
Business News

Economic growth adversely affected by 'shrinking workforce', committee warns

April 24 2023

A report published by the Business, Energy and Industrial Strategy (BEIS) Committee has warned that the UK's shrinking workforce is restricting economic growth.

The report suggested that labour shortages are being 'exacerbated' by an 'exodus' of over-50s from the labour market during the COVID-19 pandemic.

A poll commissioned by the Committee revealed that whilst many workers took early retirement, some individuals would consider returning to work if flexible roles with adequate protections allowed them to continue a semi-retirement.

Darren Jones, Chairman of the BEIS Committee, said: 'Our shrinking and ageing UK labour market and the lack of political leadership on this issue is holding back economic growth.

'Rethinking the legal framework and protections around new types of more flexible working through an Employment Bill would open up work opportunities to many people who want to be economically active but currently aren't. We won't be able to move the dial on economic growth in our country until we invest in, support and make the most of the potential of every worker across the UK.'

Here to help

Please complete the form below and our expert team will be in touch.

  • Contact details

    • *
    • *

  • What services are you interested in?

    • *

  • Message

    • *

  • Which location would you like to contact?

  • Communication

    • *Indicates a required fields.†At least one form of contact is required.

      By submitting this form, you agree that Attwoods can process your information in order to respond to your enquiry. For more information visit our Privacy Policy.

Bromsgrove
Bromsgrove

Attwoods is proudly based in the historic market town of Bromsgrove, Worcestershire

  • 182 Worcester Road
  • Bromsgrove
  • Worcestershire
  • B61 7AZ
Call us01527 874170
Learn more about BromsgroveGet in touch
Evesham
Evesham

Attwoods is proudly based in the picturesque town of Evesham, Worcestershire; nestled in the heart of the Vale of Evesham

  • 90-92 High Street
  • Evesham
  • Worcestershire
  • WR11 4EU
Call us01386 424388
Learn more about EveshamGet in touch
Pershore
Pershore

Attwoods is proudly based in the Georgian market town of Pershore, Worcestershire.

  • Perrott House
  • 17 Bridge Street
  • Pershore
  • Worcestershire
  • WR10 1AJ
Call us01386 554870
Learn more about PershoreGet in touch
  • Xero Logo
  • Gold Partner Logo
  • Sage
  • QuickBooks Platinum

The practices of Attwoods are carried on by Attwoods Accountants Limited, Attwoods Business Services Limited, Attwoods (Bromsgrove) Limited. Regulated for a range of investment business activities by the Association of Chartered Certified Accountants.