Young bearing the brunt of UK tax and wage changes, says BoE economist https://ift.tt/C5upN1X Tom Knowles Huw Pill warns combined effect of national insurance and minimum wage rises have ‘acute’ effect on youth employment The negative effect of a combined increase in employers’ taxes and minimum wages has been “particularly acute” for young people, the Bank of England’s chief economist has warned. Huw Pill said on Tuesday that the increase in national insurance contributions (NICs) from April last year and the government’s efforts to equalise the “national living wage” had caused a particular problem for young people trying to find jobs. Continue reading... https://ift.tt/362FneP 2026-02-24T19:07:38Z

Huw Pill warns combined effect of national insurance and minimum wage rises have ‘acute’ effect on youth employment

The negative effect of a combined increase in employers’ taxes and minimum wages has been “particularly acute” for young people, the Bank of England’s chief economist has warned.

Huw Pill said on Tuesday that the increase in national insurance contributions (NICs) from April last year and the government’s efforts to equalise the “national living wage” had caused a particular problem for young people trying to find jobs.

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from The Guardian https://ift.tt/C5upN1X