Budget Man Torsten Bell’s old outfit has released a new report blaming Reeves’ tax raid for soaring unemployment. The Resolution Foundation points the finger at the £26 billion National Insurance contribution raid, describing it as a “shock” that’s helped push joblessness higher…
The Starmtrooper training ground slammed the minimum wage hikes too:
“The increase in employer NICs and the minimum wage changes introduced in April 2025 both served to raise the labour costs of younger workers relative to older workers. The employer NICs increase affected the cost of employing young workers aged 21 and above because it had a bigger impact on low than high earners, and young people earn less than older workers.”
The report finishes on a solemn note: “Unfortunately, we can’t go back in time and choose a more jobs-friendly tax increase than the employer NICs hike. But the Government can be careful about any further increases in labour costs, especially for young people.” Meanwhile, households’ views on future finances have fallen to a two-year low in December, with views on job security at a six-month low, according to S&P Global. Bell ends up upsetting his former colleagues yet again…
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