Hudson Contract backs new research showing highly skilled freelancers contribute £145bn to UK economy every year

A new report from the Centre for Research on Self-Employment highlights the vital importance of the ‘project economy’ – demonstrating that the UK economy would be far less entrepreneurial, innovative and ultimately more sluggish if firms did not have access to high-skilled freelancers.

“Freelancers are sometimes lumped together, but this report makes it clear there’s a world of difference between the gig economy, with its casual, less-skilled workers, and the project economy, which relies on skilled specialists who help firms navigate peaks and troughs in demand whilst delivering significant added value,” says Hudson Contract Managing Director Ian Anfield.

“We welcome this timely analysis, along with its recommendation that policy should generally focus on enabling and supporting high-skilled project work, while protecting and guarding against vulnerability among lower-skilled gig work. 

“When you consider the project economy contributes £145 billion to the UK economy per year, there’s a powerful case for more progressive employment and tax policies capable of making the country more competitive in the global market, rather than the changes to IR35 that will soon be hitting the private sector.

“Industries like construction, manufacturing, IT, finance and media rely on the supply of specialist and flexible labour. Without high-skilled freelancers working on projects, it would be far more challenging for businesses to be innovative, productive and competitive.”