Political Currency EMQs: Can we get young people back to work?
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Feb 10, 2025 This week's discussion tackles the pressing issue of youth unemployment, with insights on the economic impact of worklessness. The hosts debate the efficacy of public spending and respective tax reforms. They also explore the Office of Budget Responsibility's role in shaping policies amidst rising demands. Historical examples underline the importance of effective policymaking in crises. Additionally, the conversation highlights how psychology can guide public policy, especially in addressing the societal effects of the pandemic on those re-entering the workforce.
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Incentivize Entrepreneurship
- Rachel Reeves should offer something for entrepreneurs, similar to Gordon Brown's 10% CGT.
- This would signal support for entrepreneurship, which is currently missing.
CGT Exploitation Concerns
- A lower CGT rate for entrepreneurs could be exploited by those in regular jobs disguising income as capital gains.
- The richest could pay less tax than lower earners, creating unfairness.
PIP's Unforeseen Costs
- The rising cost of disability benefits, like PIP, is a major issue, exceeding initial predictions.
- This is partly due to lobbying and court decisions broadening eligibility criteria.