The Bank of England’s chief economist said his daughter is among the hundreds of thousands of young people struggling to find work as a jobs crisis grips Britain.
Huw Pill told MPs that youth unemployment was affecting him personally and said Labour’s recent tax and minimum wage changes were fuelling the problem.
“I very much share your concern about unemployment, particularly for the younger people. I have a daughter looking for a job, so this is a very immediate experience for me personally as well,” the economist told the Treasury select committee.
“Some of the changes … around tax and the National Living Wage, they have particularly had an effect at the 16 to 18 and the 18 to 21 [age groups]. That is because some of the changes have been to move some of the special lower rates of the National Living Wage up to the normal rates.”