Search Results for: economic

Taking action on climate change will boost economic growth, claims report

Taking action on climate change will boost economic growth, claims report 0

Integrating measures to tackle climate change into regular economic policy will have a positive impact on economic growth over the medium and long term, according to a new OECD report prepared in the context of the German Presidency of the G20. Investing in Climate, Investing in Growth claims that bringing together the growth and climate agendas, rather than treating climate as a separate issue, could add 1 percent to average economic output in G20 countries by 2021 and lift 2050 output by up to 2.8 percent. If the economic benefits of avoiding climate change impacts such as coastal flooding or storm damage are factored in, the net increase to 2050 GDP would be nearly 5 percent.

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We will soon all have to work into our 70s, claims World Economic Forum

We will soon all have to work into our 70s, claims World Economic Forum 0

The retirement age in Britain and other developed countries will need to rise to 70 by the middle of the century to head off the biggest pension crisis in history, according to a report from  the World Economic Forum. The world’s six largest pension systems will have a joint shortfall of $224 trillion by 2050, imperilling the incomes of future generations and setting the industrialised world up for the biggest pension crisis in history. To alleviate the looming crisis, governments must address the gaps in access to the pensions system and ageing populations as they are the key sources of the widening pension gap. These are the main findings of the new World Economic Forum report, We’ll Live to 100 – How Can We Afford It?, released today, which provides country-specific insights into the challenges being faced at a global level and potential solutions. The report is the latest study to calculate the impact of ageing populations in the world’s largest pension markets, which include the United States, United Kingdom, Japan, Netherlands, Canada and Australia. The issue has implications for the workplace that are already becoming evident as the working population ages and more people choose to defer retirement.

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America’s corporate occupiers streamline portfolios due to economic uncertainty

America’s corporate occupiers streamline portfolios due to economic uncertainty 0

America's corporate occupiers are preparing portfolios for economic uncertainly

While talent continues to reign supreme on the list of top concerns for US companies a growing number of respondents to CBRE’s annual Americas Occupier Survey cited economic uncertainty as a top challenge, up from 36 percent in 2016 to 52 percent. As a result, 87 percent of corporate occupiers report that they are managing to this uncertainty by disposing of surplus space and/or implementing more efficient workplace designs to prepare their portfolios for the future. Only 26 percent of respondents expect to expand their portfolios over the next two years, down from 38 percent in the 2016 survey. Approximately one-half of the 2017 survey’s respondents indicated that the size of their portfolios would remain stable with 2016 levels. However, while uncertainty is driving many real estate decisions, creating a workplace experience focused on talent remains top of mind for the majority of occupiers surveyed.

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Majority of employers predict more challenging economic conditions this year

Majority of employers predict more challenging economic conditions this year 0

Majority of employers predict more challenging economic conditions this year

Three quarters of UK employers (76 percent) expect economic conditions to be more challenging in 2017 compared to 2016 and there are signs that the jobs market is slowing, claims the Recruitment & Employment Confederation (REC) latest JobsOutlook survey. Employers intending to increase their permanent staff headcount within the next three months has reduced to one in five (21 percent), down from 24 percent reported last month. Similarly, demand for permanent staff has reduced in all sectors except health & social care and education. More positively, despite harsh economic conditions, businesses remain self-confident with three quarters of employers polled (74 percent) saying that their business will perform better this year compared to last year. Skills shortages remain a challenge for businesses however, as half of all employers (50 percent) anticipate a shortage of suitable candidates for some permanent roles this year. Employers anticipate that roles in engineering & technology, health & social care, and hospitality will be particularly affected by skills shortages.

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KPMG first UK firm to publish socio-economic make-up and diversity of staff

KPMG first UK firm to publish socio-economic make-up and diversity of staff 0

KPMG first UK firm to publish socio-economic profile of staffThe first business in the UK has published detailed workforce data outlining the socio-economic make-up of the firm as a way of understanding its workforce diversity. KPMG has published data, which measures employees’ parental occupation and education and the type of school employees attended along with graduate and school leaver socio-economic data from the past three years. It reveals that the vast majority of the workforce – 74 percent of respondents – received a state school education: 60 percent attended a non-selective state school and 14 percent attended a selective state school, with 23 percent receiving private education.  Additional detail on parental education shows that 48 percent have a parent or guardian with a university degree, while 43 percent do not. On parental occupation, 58 percent have parents in a higher managerial, administrative and professional occupation, 16 percent have parents employed in a manual occupation and 11 percent have parents in intermediate occupations. KPMG is the first business in the UK to share details of the parental occupation of its workforce, which is recognised by social mobility experts as a strong indicator of socio-economic background.

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UK cities now outperforming pre-crisis peak on key socio-economic indicators 0

The majority of UK cities and Local Enterprise Partnership (LEP) areas are now outperforming their pre-financial crisis peak, according to the latest 2016 Good Growth for Cities index, produced by PwC and the think-tank, Demos. However, a number of cities that have previously scored highly terms of jobs, incomes and business start-ups are beginning to experience growing pressures on housing affordability, transportation and work-life balance. The report also warns that the elements of the Good Growth index could be impacted by Brexit, with housing, jobs and income potentially seeing the largest effects.  However, it also points to post-Brexit opportunities including revised trade relations and regulations and the potential of new markets beyond the EU. Published today, the fifth annual Good Growth for Cities index measures the performance of 42 of the UK’s largest cities, England’s Local Enterprise Partnerships LEPs  and the new Combined Authorities against a basket of categories defined by the public and business as key to local socio-economic success.

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Economic slowdown curbs demand for office space in Dubai

Economic slowdown curbs demand for office space in Dubai 0

Dubai Internet City (DIC)There has been a reduction in demand for office space in Dubai over the past six months, as the ripple effect of the oil price collapse and the subsequent economic slowdown in the rest of the Gulf reverberates across the emirate’s commercial property market. As firms retrench staff and reconsider their future strategy in the wake of global economic challenges, decisions to acquire, expand or move office space have commonly been put on hold according to Cluttons’ latest Dubai Office Market Bulletin. This has resulted in an exaggeration of the seasonal summer slowdown throughout late Q2 and early Q3 2016. Cluttons’ research also highlights that, the general lack of rental growth is unlikely to change in the short-term. Across the market as a whole, rents are not expected to fall much further, particularly as they are at a point where they are considered to be fair market value and landlords appear unwilling to lease below a certain level.

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Built environment argues economic benefits of meeting climate change challenge

Leaders of built environment argue economic benefits of climate changeFollowing the publication of the latest Intergovernmental Panel on Climate Change (IPCC) report, warning about the effects of global climate change; the chief executives and senior leaders of 18 major businesses in the construction and property sector have written an open letter, published in The Daily Telegraph to highlight the economy opportunity presented by climate change and to defend the UK’s ground breaking Climate Change Act. In the letter, which includes signatories from Land Securities Group, BAM Construct and Balfour Beatty, the leaders warn that “undermining of the Climate Change Act is deeply unhelpful, and creates uncertainty”, and that “it should continue to be the central framework against which to deliver clear and consistent policy. It states: “Our businesses are convinced that Britain can and should be a world leader, and that far from being a burden to UK Plc, clear commitment to tackling climate change will open up opportunities for businesses both at home and abroad.”

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HS2 will generate £40 billion in economic benefits and a surge of investment in office space, claims new report

HS2According to a report published today in The Daily Telegraph, the UK’s new HS2 high speed rail network will encourage housebuilding and commercial property development as part of a £40 billion boost to the UK economy. The report, produced by consultants EY, also suggests that  new developments around the main stations along the route, including Birmingham, Manchester and West London would generate some £1 billion  a year before the route’s completion in 2035, including some 850,000 sq ft of new office space. The newspaper claims the full report will be released by the Government this week as part of its campaign to win support for the controversial scheme and that its content will be a major talking point at this week’s MIPIM which takes place for the first time in London. It was revealed recently that the Government now expects the scheme to cost £73 billion, a figure which critics, including Mayor of London Boris Johnson claim could be spent more wisely.

Economic recovery may be constrained by lack of skills and office space

Supply and demandThere are signs that the nascent recovery in the UK economy is already starting to put pressure on the availability of skilled employees and appropriate commercial property for the most rapidly growing sectors. While the Government has announced that the UK’s economy has been growing at its fastest rate since 2007, a new survey published by the UK Commission for Employment and Skills (UKCES ) has claimed that nearly a quarter of vacancies in the UK have gone unfilled because of a shortage of much-needed skills. At the same time, claims a new report from DTZ, demand for commercial property is strengthening with take-up growing across the country while the availability of Grade A office space is declining rapidly.

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Cities report highlights skewed nature of UK economic recovery

The Centre for Cities has today published its seventh annual report into the economic conditions in the 64 largest urban areas in the UK. The Cities_Outlook_2014 report paints a picture of a patchy economic recovery across the UK, with many cities such as Edinburgh, Birmingham, Manchester, Nottingham, Liverpool and Leeds seeing an upturn in their economies, but one that lags significantly behind that of  London. The capital continues to disproportionately attract investment and people from across the UK and overseas, sometimes to the detriment of other towns and cities. The report argues that more power and finding needs to be devolved away from London to ensure that the UK enjoys a sustainable and balanced economic recovery.

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Mid-sized firms are unsung champions of the economic recovery says CBI

Unsung champions of economic recoveryMedium-sized businesses (MSBs) are making a significant contribution to jobs and growth across the UK. Between March 2010 and March 2013 they have created 185,000 jobs, a 4.1 per cent increase compared with 1.9 per cent by large companies and 2.8 per cent by small firms. New CBI research published today shows that despite only accounting for 1.8 per cent of the UK private sector, MSBs, which employ between 50-499 people and have a turnover of £10-100 million, now employ 4.7 million people across the UK – 16 per cent of the total UK workforce. The CBI has launched #MSBMonday to boost recognition for MSBs and is calling on local government and policy makers to do more to recognise and support medium-sized businesses as their local champions. More →