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Retailers urge UK chancellor to reduce cost of employing young workers

Retail groups are asking for a partial reversal of a cut in the national insurance earnings threshold that they say contributed to fewer youth and part-time jobs and higher youth unemployment.

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UK retail and hospitality leaders met Chancellor John Healey at an event at No 11 to press for changes they say would reduce the cost of employing young people, according to the Guardian Business.

The retailers, including Tesco, Costa Coffee and the Co-op, focused on employers national insurance contributions, arguing that a rise in employers NICs has weighed on hiring.

Businesses want a partial reversal of a change under Healey predecessor Rachel Reeves that lowered the earnings threshold at which employers start paying NICs from £9,100 to £5,000 a year.

The group said the threshold cut contributed to a plunge in high street jobs for young and part time workers and to an increase in youth unemployment, the Guardian Business reported.

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