Former Bank of England MPC member David \’Danny\’ Blanchflower tells Robert Miller that the Government must cut National Insurance contributions for two years to help all young people under the age of 25 to find jobs.
And why would anyone want to do that?
Because, obviously, Blanchflower thinks that young people are too expensive to employ. The money they must be paid, including that NI, is too much considering what they are able top produce.
Or, in other words, the youth minimum wage is too high.
It would be simpler to cut that youth minimum wage really: despite that being politically difficult.
But this proposal is proof absolute that my long averred contention is correct. Youth unemployment is high because we have a minimum wage that prices youth out of jobs. That\’s why Blanchflower is recommending that we lower the cost of employing youths.