Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Economy

26 Sept 2021

UK: Short term Visa Plan Won’t Fix Truck Driver Shortage Ahead of Christmas

The Index Today

Businesses have warned the country’s decision to issue temporary visas to bring in 5000 foreign truck drivers will not be able to fix the problem of acute labor shortage.
The retail industry has spoken up regarding fuel supply issues which may pose a problem ahead of the festive season. Unless the driver shortage is addressed soon, major retail disruptions could be seen during Christmas.
Transport minister Grant Shapps said, “After a very difficult eighteen months, I know how important this Christmas is for all of us and that’s why we’re taking these steps at the earliest opportunity to ensure preparations remain on track.”
The government plans to bring in 5000 drivers on temporary visas and a HGV license. Furthermore, poultry workers will also be brought in to make sure no disruptions occur in the food industry. Both visa will be issued on a short term basis whereas the long term solution requires workers to be paid better.
Grant Shapps further said, “We are acting now but the industries must also pay their part with working conditions continuing to improve and the deserved salary increases continuing to be maintained in order for companies to retain new drivers.” However, the limited number of driver visas will not resolve the current shortage problem as businesses have stated they need at least 15,000 drivers to manage their supply transportation ahead of Christmas.

©Photo: Reuters

Clay pottery with table linens