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What the General Election Means for Contractors and How to Adapt

Friday 28th June 2024

Sterling - What the General Election Means for Contractors and How to Adapt

What the General Election Means for Contractors and How to Adapt

Introduction

The 2024 General Election is on the horizon, and it promises to be a pivotal moment for the UK. With policy changes and potential shifts in government, the landscape for contractors could see significant transformations. 

The Impact of Policy Changes on proposed manifesto’s

Some areas from the conservative manifesto:

Some areas from the Labour manifesto

Economic Policies

Economic stability is crucial for contractors who rely on a steady flow of projects. The Conservative Party promises to maintain low taxes and high economic growth, potentially boosting demand for contract work. Labour, however, focuses on rebuilding national infrastructure and increasing public spending, which could create more opportunities for contractors in sectors like construction, healthcare, and education.

Strategies for Adapting

Stay Informed

Knowledge is power. Keep yourself updated on the manifestos of both major parties and any policy changes they propose. Regularly check sources like the official government websites for updates on deadlines and new regulations.

Diversify Your Skill Set

In uncertain times, diversification is key. Expanding your skill set can make you more marketable and open up new opportunities. Look into taking courses or obtaining certifications in areas that are likely to see growth within your industry.

Looking Ahead

Long-Term Implications

The long-term implications of the general election on the contracting industry could be far-reaching. If the Conservative Party wins, we might see continued deregulation and economic growth, benefiting contractors. However, a Labour victory could mean increased public spending and more projects available. 

Future-Proofing Your Career

To stay ahead of future shifts, focus on future-proofing your career. Keep an eye on emerging trends and technologies in your industry. For example, AI and machine learning are becoming increasingly important across pretty much all sectors. By staying ahead of the curve, you can ensure that your skills remain relevant.

Building a Network

A strong professional network can provide support and opportunities during times of change. Attend industry events, join professional associations, and engage with peers on platforms like LinkedIn. Building a robust network can help you stay informed about industry trends and potential job opportunities.

Conclusion

The 2024 General Election holds significant implications for independent contractors and contracting agencies. By staying informed about policy changes, reassessing your financial planning, diversifying your skill set, and building a strong professional network, you can navigate the uncertainties ahead and continue to thrive in your career.

It is worth noting that all of the details won’t be available to us until after July 4th. 

For more information on all things The Sterling Group get in touch with us today.

Customer liaison:
01925 626 200

Contractor joining team:
01925 626 286

Agency account management:
01925 626 285

Email: info@thesterlinggroup.co.uk

 

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