Next boss: It will be harder for people to get first jobs

Published On Jan 16, 2025, 7:03 PM

The CEO of Next, Lord Wolfson, has warned that recent tax changes in the UK will make it significantly harder for individuals to find entry-level jobs. With the increase in National Insurance for businesses and a rise in the National Living Wage, retail sectors, particularly those with many lower-paid workers, will face challenges that may lead to cuts in employee hours or numbers. While the government claims these measures are designed to boost economic growth, retailers fear job losses and potential price increases for consumers as costs rise. Lord Wolfson expressed concerns that the hasty implementation of these changes is detrimental to both the workforce and the economy.