Midday Markets: Burnham’s welcome crack down on pesky non-competes

The Midday Market report, a fresh analysis on the City’s biggest stories, highlights Andy Burnham’s welcome crack down on non-competes and lengthy notice periods. In today’s hypercompetitive global economy, Britain struggles to match other countries in terms of industry leadership. However, the UK boasts a significant number of highly intelligent individuals in its 'golden triangle' of London, Oxford, and Cambridge.

The issue of excessively long non-competes and anticompetitive clauses has become a cause celebre for City AM. Despite having access to a vast pool of top talent, the UK's arcane employment practices hinder the growth of high-skilled engineers and top performers from establishing successful companies. Burnham, alongside his business secretary Jonathan Reynolds, vowed to address these issues during a speech in Manchester.

The move aims to inject dynamism into the upper echelons of the UK's job market and allow the country to grow as quickly as it potentially could.