Queen's Speech reaction from Zurich

Reacting to measures in the Queen's Speech, Zurich's HR Director, Steve Collinson spoke about the commitment to future skills and called for reform to the apprenticeships levy.

"Today's announcement of a skills revolution for England and the introduction of a "lifetime skills guarantee" couldn't come at a better time. The pandemic has had a fundamental impact on the UK labour market and its skill base. Addressing the long-term impact of this whilst reshaping the continued evolution of labour demand will be a huge challenge.

We urge the Government, as part of its skills revolution, to review the current apprenticeship levy and adjust it to a more flexible model at an increased pace. This is particularly important for industries, such as financial services, which will be impacted by technological advancements including the growth of automation and artificial intelligence. Zurich has already invested almost £1m to upskill its workforce and build a truly adaptable and agile team, helping our employees future-proof their careers.

Additionally, Peter Hamilton, Head of Market Engagement reacted to the lack of detail around reforms to adult social care.

“The lack of detail on Social Care reform may not be entirely surprising, given so many false starts, but it is disappointing. The ongoing challenges in care homes caused by the pandemic simply reinforced the urgent need for change and for addressing the inadequacies and inconsistencies in the current system.

Commitment is needed to introduce measures that will ensure clarity for people around the level of support they can expect to receive from the State, as well as what they will be expected to contribute themselves. And of course with that comes the need for serious additional funding. Without this, we will continue to see inconsistency and unfairness as people grapple with a complex system, unable to make any sort of financial provision or plan for their own futures or those of loved ones.”