Asked by: Baroness Stedman-Scott (Conservative - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what assessment they have made of the impact of increased employer National Insurance contributions on employment opportunities for young people in the hospitality sector, and of the consequences for the number of young people who are not in education, employment or training.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
A detailed assessment of the policy has been published by HMRC in their Tax Information and Impact Note. The TIIN sets out the impact of the policy on the exchequer, the economic impacts of the policy, and the impacts on individuals, businesses, and civil society organisations, as well as an overview of the equality impacts.
The Office for Budget Responsibility (OBR) also published the Economic and Fiscal Outlook (EFO), which sets out a detailed forecast of the economy and public finances. With all policies considered, the OBR's March 2025 EFO forecasts the employment level to increase from 33.6 million in 2024 to 34.8 million in 2029.
This Government is committed to providing young people with the best start to their working lives. The Government will deliver a Youth Guarantee so that all 18 to 21-year-olds in England have access to education, training or help to find a job or an apprenticeship. To support this, we are funding eight trailblazers across England to test how different elements of the Guarantee can be brought together into a coherent offer for young people. The Government is also expanding Sector-based Work Academy Programmes to provide 100,000 places in 2025/26, providing a work placement, training and a guaranteed interview that can kickstart a new career and support young people into work.
Asked by: Baroness Stedman-Scott (Conservative - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what assessment they have made of the impact of changes to employer National Insurance contributions on the construction sector.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
A Tax Information and Impact Note (TIIN) was published alongside the introduction of the Bill containing the changes to employer NICs. The TIIN sets out the impact of the policy on the exchequer, the economic impacts of the policy, and the impacts on individuals, businesses, and civil society organisations, as well as an overview of the equality impacts.