businessNEWS
IMF raises UK economic
growth forecast
The International Monetary Fund (IMF) has sharply
increased its growth forecast for the UK economy.
It now expects the economy to grow 2.4%
this year - faster than any other major
European economy - against its previous
forecast of 1.9%. In 2015, it expects growth
of 2.2%.
The IMF also raised its global growth
outlook slightly to 3.7%.
“Global growth is expected to increase in
2014 after having been stuck in a low gear in
2013,” the IMF said in its report.
The world’s largest economy, the US, is
expected to grow by 2.8% this year, an
improvement on the previous estimate of
2.6% that the IMF made in October.
It expects the euro area as a whole to grow by
1%. “The euro area is turning a corner from
recession to recovery,” the IMF said. However,
it added the pickup would be weaker in
economies that have been facing “financial
stress”, namely Greece, Spain, Cyprus, Italy
and Portugal.
The IMF also upgraded its forecast for the
Chinese economy to 7.5% this year.
But it also warned that “strengthening
global growth does not mean that the global
economy is out of the woods”.
It said governments in advanced economies
must not withdraw measures to support
growth prematurely.
Christine Lagarde, the IMF managing
director, has previously expressed concerns
about growth levels in the UK economy in
light of the government’s austerity drive,
which is designed to reduce debt levels.
But the IMF upgraded its forecast for the
UK in 2014 by more than for any other
economy. It also raised its forecast for growth
in 2015 to 2.2%.
“[The IMF] report provides further
evidence that the government’s long term
economic plan is working,” said a Treasury
spokesperson.
But Shadow chancellor Ed Balls said:
“After three damaging years of flatlining,
any growth is both welcome and long
overdue.
“With business investment still weak and
the IMF forecasting that UK growth will
slow down again next year, it’s clear that this
is not yet a recovery that is built to last.”
TOTAL GLASS
CELEBRATES
‘ABSOLUTE’
TRAINING SUCCESS
Liverpool-based Total Glass Ltd
is celebrating the success of 31
employees who achieved their
GQA level 2 NVQ certificate
in the Fabrication of Glass
Supporting Structures (QCF)
in partnership with Absolute
Training Solutions Ltd.
Representing nearly 17% of
the 185-strong workforce, the
company is one of the biggestever groups to have gained
workplace qualifications in one
year at the award-winning uPVC
and aluminium fabricator.
Total Group Managing Director
Frank Deary praised their success
saying: “As part of our serious
commitment to staff training, we
84
MAR 2014
encourage all our employees to
participate in skills programmes
that lead to industry-recognised
qualifications. Their hard work
and dedication is a credit to
themselves and the company.”
Michael Hurst, HSEQ Manager
at Total Glass, explained that
two-thirds of the NVQ group
were new employees, mostly
with previous window industry
experience with several having
also joined after leaving the
Armed Forces.
“All, including our existing
employees, have shown a strong
interest in pursuing these
qualifications. Investing in
training helps us to stay ahead of
the competition through more
motivated staff as well as increased
productivity and efficiency,” he
added.
Mike Smith (NVQ Assessor at
Absolute Training Solutions Ltd,
who resenting the certificates
to Total Glass Ltd, said: “Total
Glass Ltd is an ideal Employer as
their commitment to training and
to the GQA QCF qualifications
has made them a pleasure to work
with”.
“A special mention must
go to Diane Newton as she
was the ideal candida H[