UK business leaders believe a package of labour market investments and reforms, including an alternative to redundancy, could help stem the tide of job losses as the recession pushes unemployment towards three million. A report by the CBI and Siemens plc also highlights longer-term issues and warns that levels of employment regulation are at a 'tipping point' having added £70bn to business costs since 1998. The report stresses that the UK must work much harder to remain an attractive global jobs destination and that there is a need to improve skills levels and assess the real impact of employment laws on future job creation.
Andreas J. Goss, chief executive Siemens plc and North West Europe said: "To compete successfully in a global market the UK needs a highly motivated, adaptable and skilled workforce. Government can help by ensuring a good standard of highly literate and numerate workers coming through an education system where there has been investment in STEM subjects. Industry can play its part by identifying the growth areas to invest such as renewable energy and green infrastructure solutions. Industry leaders like Siemens must partner with schools and universities to inspire the next generation to choose careers in science, technology, engineering and maths. We have a chance to stay ahead if we build our 'pipeline of talent' here in the UK, " said Goss.
To read the full CBI report, sponsored by Siemens, please click here.
For more information on the CBI, please visit www.cbi.org.uk
