PAYE umbrella contractors specialising in the IT skills market may be encouraged by the views of some of the UK’s leading technology executives, the vast majority of whom believe that economic growth in the UK will be fuelled by technology over the next few years.

Barclays Corporate’s Politics and Economy 2011 survey sought to glean information on the general outlook for growth amongst the UK’s executives. 88% of the 664 executives polled thought that technology would prove to be the key driver of growth, with 78% believing professional services would play a pivotal role and 73% believing that hospitality and tourism services would. 69% opted for financial services.

Unsurprisingly, given the government’s spending austerities, only 31% of respondents believe that significant growth would be driven by public sector infrastructure projects. Even so, 85% expressed confidence that their business needs would be well supported by their local infrastructure over the next decade. 82%, however, believe that the UK economy will become appreciably less dependent on the public sector, against just 17% who thought that public sector reliance would grow.

Although concern is growing in the IT industry about how adequately technology is taught in schools at present, over half (53%) of the technology chiefs polled believe that their businesses would be properly supported by state education in the coming decade.

Given the focus on keeping long term costs to a minimum, many technology leaders may well turn to IT contracting via payroll outsourcing solutions to drive their businesses forward.

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