Wes Streeting called for national insurance cuts for businesses and for North Sea oil and gas drilling. He proposed a targeted reduction in employers’ national insurance contributions to incentivise hiring, especially of young people. A report by Alan Milburn linked a lack of hospitality jobs to high youth unemployment and cited a halving of hospitality vacancies over four years. Britain’s 16-to-24 not earning or learning rate is the third-highest among rich European countries. In 2024, employer NI rose from 13.8% to 15% and the starting threshold fell from £9,100 to £5,000, aiming to raise £25bn annually but criticized for discouraging lower-paid and part-time hiring. Pat McFadden said employers already do not pay NI for workers under 21 and warned that tax changes have costs and consequences, adding that higher NI rates helped reduce NHS waiting lists.
Read at www.theguardian.com
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