{
  "id": 14260501,
  "title": "UK high street bosses urge chancellor to cut cost of employing young people",
  "url": "https://urgent.news/2026/10/13/uk-high-street-bosses-urge-chancellor-to-cut-cost-of-employing-young",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-13T17:43:19.000Z",
  "source": {
    "name": "Guardian Business",
    "slug": "guardian-business",
    "url": "https://www.theguardian.com/business/2026/oct/13/uk-high-street-bosses-urge-chancellor-to-cut-cost-of-employing-young-people"
  },
  "original_language": "en",
  "account": "Some of the UK's leading retailers, including Tesco, Costa Coffee and the Co-op, have met with Chancellor John Healey to plead for a reduction in the cost of employing young people in his upcoming budget. At a meeting in No 11, sector leaders, such as Marks & Spencer's CEO Stuart Machin and Sainsbury's CEO Simon Roberts, discussed the impact of rising employers' national insurance contributions (Nics) on their businesses. Retail and hospitality firms are requesting a partial reversal of the reduction in the earnings threshold for paying Nics, from £9,100 to £5,000 per year, which they believe contributed to a decline in high street jobs for young people and part-time workers. They advocate for raising the Nics threshold to £6,000, as they believe this would aid job creation and alleviate inflationary pressures on high streets. Participants at the meeting expressed optimism that Healey would address their concerns, noting that they felt heard. Helen Dickinson, the chief executive of the British Retail Consortium, emphasized that retail is a key driver of growth, providing jobs, investment, and opportunities for young people, and that increased taxes for retailers will ultimately be passed onto consumers, making it harder for businesses to create jobs. Healey has promised to mitigate the cost of doing business amid rising energy bills. However, Labour MPs and thinktanks have called for a different approach, suggesting an equalization of capital gains tax (CGT) rates with income tax rates. The current CGT rates for basic-rate taxpayers are 18% and 24%, compared to a 20% rate for income tax. While the government rejected these calls, Healey may still consider a smaller increase in CGT to boost government finances, although he has expressed concerns about potential inward investment.",
  "summary": "Retailers call on John Healey to reduce national insurance contributions threshold in his first budget Some of the UK’s biggest retailers and hospitality businesses, including Tesco, Costa Coffee and the Co-op, have met John Healey to urge him to cut the cost of employing young people in his first budget. At the No 11 event on Tuesday morning, the chancellor heard from sector leaders – including…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}