WNY Chamber calls upon the Chancellor to cut National Insurance contributions for all under-25s

West & North Yorkshire Chamber of Commerce today calls upon the Chancellor to cut National Insurance contributions for all under-25s and to commit to infrastructure improvements in the region at the forthcoming Budget next week.

The Chamber, which represents more than 5,000 employers in the region, says the National Insurance reduction for those aged younger than 25 would make a significant contribution to tackling the youth unemployment crisis.

According to research by British Chamber of Commerce, to which WNY Chamber is a fully accredited member, domestic policies have increased the cost stack facing a typical SME by over 70 per cent in the past decade. Of these around a quarter of that rise has come since the 2024 budget.  

The Chamber recommends a fiscally responsible immediate steps, including the National Insurance cut.

Regionally, the Chamber recommends the Chancellor provide further commitment to Northern Powerhouse Rail and Mass Transit for West Yorkshire, including the Southern Gateway development in Bradford to give the city a new railway station.

Elsewhere, the Chamber recommends a targeted tax reduction package to ease energy and business rate pressures for all firms. That should include government funding 75 per cent of the Renewables Obligation for business and lowering all rateable value multipliers. It also recommends Number 11 restore consistent, locally delivered export support to help more SMEs trade globally and drive growth, as well as further investment in construction skills in the region.

Mark Casci, head of policy at the Chamber, said:

“The consistent message from our members here in Yorkshire is that employers need a break. Years of persistent increase in overheads are holding businesses back from carrying out the investment, recruitment and growth they so desperately wish to enact.

“Cutting the cost of employing people would be an important first step to increase business confidence and help reduce the NEET scandal impacting our young people.

“Now is far for the time for a low-key Budget, we need decisive action to help our fantastic businesses help deliver the economic growth our country needs.”