An intriguing development this week may result in a surge in demand for PAYE umbrella contractors working in the IT skills market.

New calculations from internet leviathan Google forecasts that, over the next five years, the UK will see the creation of 365,000 new jobs as a direct consequence of British firms exploiting the internet successfully. The figure was calculated by Google’s in-house economists, based on predictions for the UK’s GDP growth over the next four years (2011 – 2015).

Commenting on the estimate, Google’s European CEO Phillip Schindler said that, if anything, the economists were even being somewhat “on the conservative side” in their forecast. The facts suggest that, despite difficult general economic conditions, the web’s most successful operators have continued to grow strongly. The internet now accounts for a sizeable one fifth of GDP growth.

Mr Schindler urged government ministers to do more to encourage this tech-revolution. He said “From what I have seen I think the government really understands there is a need to drive technology and innovation. What are the areas I would double-down on? The first one is to lower the barriers to innovation. A government – rather than saying where I regulate – should rather say how can I protect and actively create the space for innovation.”

Google is leading the way on this issue and plans to expand its base in the UK, beginning with new jobs at the company’s third UK office in Soho.

If the forecast is accurate, experts in IT contracting could be in for a busy and lucrative time.

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