Worker status debate

Ahead of Justin Madders’ Westminster Hall debate on creating a single worker status, ICAEW shared a briefing setting out our view that a simpler statutory framework would reduce barriers to employment and support the government’s growth mission.

During the debate, MPs from Labour and the Liberal Democrats highlighted the complexity of the current system, including tax implications. Employment Rights Minister Kate Dearden confirmed that the government will publish a consultation on addressing employment status issues.

Engaging with members ahead of the King’s Speech

The King’s Speech on 13 May will be a key moment for government to set out its legislative agenda for the next 12-18 months.

Ahead of this, ICAEW sought the input of members to draw up a ‘wish list’ of legislation they would like to see included. ICAEW’s community plays a central role in supporting economic growth, and it is crucial that the views of our members are heard.

The feedback from our members will inform our discussions with policymakers, and reflect the practical experiences, expertise and public value members bring to businesses across the UK.

Political stakeholder engagement

Ahead of the local and devolved elections on 7 May, ICAEW representatives attended events where Labour Party officials, who reflected on the government’s challenges, the King’s Speech and the forthcoming elections, including one hosted bythe CBI Government Affairs Network. This event included discussion on business confidence and organisations’ engagement with the government’s growth agenda.

Meanwhile, Regional Director for the East of England and East Midlands Simon Gray attended an Enterprise Forum event with East Midlands Mayor Claire Ward, where discussions focused on investment, devolution and the role of spatial development strategies.

Local authority pensions

In April, Henning Diederichs, ICAEW’s Director of Public and Not-for-Profit Sectors, wrote to Ian Carruthers, the chair of HM Treasury’s Financial Reporting Advisory Board to express concerns about a proposal to change the accounting treatment of local authority pension schemes.

Diederichs warned that the proposal represented a material departure from recognised accounting principles and outlined our key concerns with the suggested approach.

ICAEW supports proportionality in accounting and disclosure requirements, and has offered to meet with Carruthers to discuss our concerns further.