The Conservatives have pledged to halve employers’ National Insurance from 15% to 7.5% for workers aged 21 to 24, arguing that rising employment costs are making businesses less willing to hire younger staff. The party estimates the change would save employers an average of around £1,500 a year for each eligible worker, with larger savings for higher-paid staff within the threshold. Kemi Badenoch said youth unemployment had increased significantly and argued that “people aren’t hiring young people anymore”, presenting the £2.3bn measure as part of a wider effort to improve job prospects for younger workers. The Conservatives also want to reduce employment red tape, cut taxes and strengthen incentives to work, while shadow chancellor Andrew Griffith has criticised higher payroll costs and minimum wage increases for making entry-level hiring more expensive. The party says its broader economic strategy would focus on lowering business costs, encouraging recruitment and creating conditions for stronger employment growth. |
