More than 125 top business leaders from across the UK have written to Chancellor Rachel Reeves urging the government to introduce a tax relief scheme to support companies that invest in training young people not in employment, education or training (Neets).
Senior executives from companies including Toyota, JCB, and leading manufacturers signed the open letter, warning that without urgent action, Britain faces the risk of “confining a generation to the scrapheap”.
The number of 16–24-year-olds in the UK classed as Neets hit 923,000 at the end of March 2024, according to official figures. Business leaders say targeted support is needed to tackle the country’s youth worklessness crisis and to make training more viable for employers already facing rising costs.
“A direct and accessible skills tax relief would act as a fiscal incentive, enabling businesses to invest in training young people,” the letter states.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased
