The public sector is now the second biggest employer of accountancy contractors in the UK, according to new research.

The research, from contract services provider Giant Group, shows 37% of accountancy contractors are employed by the government, up from 34% in the last quarter.

The public sector accounts for 19.5% of the UK workforce.
 
Matthew Brown, managing director of Giant, says: “Accountants within the Treasury have obviously seen a massive increase in their workload in the wake of the banking crisis. Boosting skills in-house isn’t an option short-term.”
 
“Historically, the public sector has been portrayed as having weaker financial management skills than the private sector, and with pressure mounting on the public sector to make significant reductions to the bottom line in a short period of time, it is increasingly reliant on external accountancy skills.”