TAX BREAKS to facilitate young people working would make a dent in rising unemployment, according to business lobbying organisation the CBI.
A new Young Britain Credit would give firms £1,500 for taking on an unemployed person aged between 16 and 24, enough to cover the first year’s National Insurance payments.
Other proposals include businesss ambassadors to strengthen links between businesses and schools, “readiness-for-work” assessments and courses to help young people build the skills they need to bridge the gap between school and work.
Director John Cridland said: “Even in these challenging times businesses are creating jobs, but all too often the unemployed, particularly our young people, are not best placed to get them.
“We need businesses, schools and the government working together to make sure young people are able to shine in the jobs market.”
The Young Britain Credit would cost around £150m a year, while a separate proposal would see benefits suspended – rather than cancelled – when someone initially takes a job, to make short-term posts more attractive.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states