Young people bearing the brunt of UK tax and wage changes, says BoE economist

Huw Pill warns combined effect of national insurance and minimum wage hikes hit youth employment in particularThe 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 issue for young people trying to find jobs. Continue reading...