Marginally Better

GDP growth contracted 0.5 per cent in the fourth quarter of 2010, revised from the 0.6 per cent decline previously published by the Office for National Statistics (ONS).

GDP at the end of last year is now 1.5 per cent higher than in the fourth quarter of 2009. The ONS also altered business investment figures for the last three months of 2010 to show no growth when compared to the previous quarter. However, business investment was 12.2 per cent higher than the same period in 2009.

David Kern, chief economist at the British Chambers of Commerce, acknowledges that the figures for GDP growth are ‘marginally better’ than the previous estimate but says they do not alter the ‘broad picture’. While output among the production industries has been revised up to 0.8 per cent in the latest quarter, with output in the manufacturing sector rising 1.1 per cent, output in the service industries fell by 0.6 per cent.

Gareth Osborne, Director General of APA said: ‘We are encouraged to see a smaller decline in services than was expected, but the sector’s performance is still disappointing. ‘The UK economy is clearly still facing many challenges in the months ahead. The most significant impact comes from the stalled property market and we believe it will be another five years before we see a real upturn in that area.’

APA agrees with BCC’s call to the Bank of England’s Monetary Policy Committee to not increase interest rates ‘prematurely’ in order to avoid the risk of an ‘economic setback’.

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What PAs are saying about APA training and qualifications

Pictured (L-R): Tara Chase, Aimie Stephens, Lisa Fawcett & Sam Herridge

“As an experienced PA looking for a recognised qualification, I am really pleased to have been introduced to The Association of Personal Assistants (APA) and have subsequently joined at Fellow Grade.” “I attended Day 1 of The Diploma which brings a valued credibility to the role of PA which is often misunderstood and undervalued. The course content is both enlightening and directly transferable to improving my daily performance. I am looking forward to Module 2. A stimulating and enjoyable day. Thank you APA.” Tara Chase, RPMI

“I thoroughly enjoyed the first module of the Diploma Programme and came away feeling very motivated and inspired. PA’s are a real asset to their manager and to the business and for me this module really brought home the importance of our role. I’m really looking forward to implementing some of the ideas we discussed and improving the way I work.” Aimie Stephens, TRACKER

“I found yesterday very inspiring, I think there is a whole world of opportunities for PA’s, they are able to do so much more than just manage calendars and send emails! I thought I was the only one who felt like this, but meeting the other girls yesterday, they too feel the same. I want to be able to show my full potential and take on more challenges.” Lisa Fawcett, Transport for London

“A great course to learn new ways of approaching your work and your relationship with your boss. Very useful for stimulating new ways of thinking.” Sam Herridge, ELEXON

APA

PA in Parliament

In her recent visit to the House of Commons to meet Minister for Housing and Local Government, the Rt. Hon. Grant Shapps MP, Laura Richardson discussed the important role played by PAs in all sectors of employment and the need for affordable housing for lower salaried employees in the UK. During the discussion the Minister reported forthcoming announcements which were subsequently revealed by the Chancellor of the Exchequer in this week’s Budget.

Laura said: “This was not my first visit to the Commons but it was my first as the ‘PA of the Year’ lobbying on behalf of APA and its Members. I enjoyed the exchange with the Minister; he listened attentively and clearly understood the role played by PAs, he thoroughly endorsed and shared our passion for their importance.

The following Housing measures were announced this week.

• Bank levy to fund 250m to help first time buyers buy newly built homes
• New Government-backed shared equity scheme to help 10,000 first time buyers

APA welcome the announcements but encourages the government to introduce reductions in income tax to make more disposable income available to fund housing costs for first time buyers and especially young professionals.

APA

APA's Budget Review 2011

Announcing his second Budget today, the Chancellor of the Exchequer, George Osborne, has sought to signal that the Coalition Government’s economic policy extends beyond deficit reduction and includes a plan for growth, while also setting out a range of measures to relieve the pressure on taxpayers.

Amongst the major announcements was a further 1% cut in corporation tax; moves towards a simplified taxation system; support for first time buyers through the introduction of a shared equity scheme; and likely to be the most popular of the measures, the introduction of a Fair Fuel Stabiliser and an immediate 1p cut in fuel duty.

The statement lacked the drama of the Coalition’s first Budget last June, which set out its intention to all but wipe out the deficit by the end of this Parliament. Its political significance cannot be underestimated however, at a time when public dissatisfaction is rising in line with the rise in petrol prices and inflation and with the Chancellor already under pressure after the 0.6% contraction in the economy in the last quarter of 2010.

APA is generally happy with the proposals made and especially welcomes attention to the needs of new, young homeowners and the measures to support and fund small business.

APA Director General, Gareth Osborne, said: “Given the extremely difficult climate I believe the Chancellor has created an intelligent and pacifying budget with sufficient good news to offer some assistance to many sectors of the economy, without doing anything too rash. All-in-all a pretty this is a fair attempt to maintain a general belief in the Coalition’s strategy for recovery.”

APA Members can find a full review of the Budget by visiting the Members' Area of the website and selecting the News Section. This also provides a link to the full Budget document.

APA