"There are reasons to be worried and think about the future. But we are able to do something about this. We should be thinking about, well, how do we tip the balance in favour of AI being used in that positive way to help people do their jobs better [rather than replacing them]."
"Lots of countries will have to examine how to rebalance their systems as they face raising less revenue from taxing employment and will have to find that money elsewhere."
"The impact on employment by AI may be different to previous technology cycles, and we want to do what we can to tip the scales in a more positive direction."
"We shouldn't rely on companies to mark their own homework."
Former PM Rishi Sunak advocates for eliminating National Insurance to enhance job hiring amid AI's profound impact on the economy. He acknowledges graduates' concerns about job availability, particularly in service sectors. Sunak proposes replacing National Insurance with taxes on corporate profits, which could increase due to AI-driven productivity. He emphasizes the need for countries to adjust their tax systems as AI changes employment revenue dynamics. Sunak also highlights the importance of ensuring AI is used positively to enhance job performance rather than replace workers.
Read at www.bbc.com
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