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Number of jobless young women hits near-decade high

Telegraph

an hour ago

Telegraph

Number of jobless young women hits near-decade high

A surge in jobless young women has driven a rise in the number of under-25s not in employment, education or training (Neets). There were 450,000 female Neets in the three months to June, according to the Office for National Statistics, which is the highest number since 2016. The majority of those women are economically inactive, meaning they are neither in work nor looking for employment, while also not in education or training. Just under a third are classed as unemployed, as they are seeking work but not yet in a job. The scale of the latest increase reflects ongoing challenges across the jobs market, with higher taxes driving down the number of vacancies on offer. Young men still make up the majority of Neets, but at 497,000 their number has fallen back from last year's high. Around 224,000 are unemployed, while 273,000 are economically inactive. In total, almost 950,000 16 to 24-year-olds were classed as Neet in June, up by 26,000 compared to the same period last year, just before the general election. It comes amid sustained falls in hiring, which has fuelled a rise in unemployment among the entire adult population to 4.7pc. The Federation of Small Businesses (FSB) called for a state support scheme for young people to set up as entrepreneurs, as well as subsidised work experience for those at risk of becoming Neet because of poor health. It also wants incentives for employers taking on young apprentices. 'This trio of measures could make a huge dent in these Neets figures, tapping into the potential of young people across the UK, reducing the figure by 100,000 each year,' said Tina McKenzie at the FSB. 'We know that ambition amongst young people is there, but it needs to be recognised and nurtured, otherwise we're letting ambition and talent wither away purely because the routes into work or training aren't clear enough.' Last year, the rise in male Neets was blamed in part on young men being drawn away from the world of work by social media, gaming and pornography. Mel Stride, former work and pensions secretary, said at the time that online obsessions are holding back youngsters. 'For boys, things like gaming, and certainly pornography and things like that, are a more prevalent factor,' Mr Stride told the Work and Pensions select committee. He said 16 to 24-year-olds had seen 'a very marked increase in mental health [conditions], which is very worrying, not least because they are young people with futures ahead of them'.

Chancellor will have to raise taxes despite lower borrowing, say economists

Leader Live

an hour ago

Leader Live

Chancellor will have to raise taxes despite lower borrowing, say economists

Official figures released on Thursday showed that UK state borrowing slowed to £1.1 billion in July, providing some relief for the Chancellor. The Office for National Statistics said the figure, which was £2.3 billion less than the same month a year earlier, is the lowest July borrowing figure for three years. It came after a rise in self-assessed income tax and national insurance payments helped increase tax receipts for the month. Public sector net borrowing excluding public sector banks was £1.1 billion in July 2025. This was £2.3 billion less than in July 2024 and the lowest July borrowing for three years. Read more ➡ — Office for National Statistics (ONS) (@ONS) August 21, 2025 July borrowing was lower than the £2 billion figure predicted by a consensus of economists. Borrowing for the first four months of the financial year stood at £60 billion, £6.7 billion more than during the same period last year. The figures come amid warnings the Chancellor may need to raise taxes again in the budget in order to plug a black hole of up to £51 billion in the public finances. It has been reported that the Government is looking at hitting owners of high-value houses with capital gains tax (CGT) when they sell their family home. The Guardian also reported that the Government is considering an overhaul of the current system on stamp duty on property purchases. Nevertheless, the Labour Government has ruled out increasing income tax, employees' national insurance contributions and VAT, restricting Ms Reeves' options when it comes to raising money. On Thursday, economists said that the latest data was positive for the Chancellor but does not halt the need for potential tax increases or spending cuts. Elliott Jordan-Doak, senior UK economist at Pantheon Macroeconomics, said: 'The Chancellor will still have to raise taxes in October despite borrowing matching official forecasts. 'The big picture remains that the public finances are in chronically weak condition. 'We think the Chancellor will need to resort to sin and stealth tax hikes, duty increases, and a pensions tax raid in order to meet her fiscal rules if she wants to meet her pledge of keeping headline tax rates unchanged.' Matt Swannell, chief economic advisor to the EY Item Club, said: 'Ultimately, it will be the OBR's (Office for Budget Responsibility) projection for borrowing over the coming years, not solely this year, that will determine whether the Government meets its fiscal target, and doing so will very likely require tax rises at the autumn budget. 'The little fiscal headroom left at the spring statement has likely been more than used up by rising bond yields, market expectations for the bank rate, and reversals in plans to cut spending in some areas, such as welfare reform.' The figures showed that central government receipts – the amount of money brought in, typically through taxes – was £100.1 billion for the month, up £8.8 billion against the same month last year. This came as compulsory social contributions, which include national insurance payments, increased by £2.6 billion to £16.3 billion after recent changes to national insurance contributions (Nics) paid by employers. Meanwhile, the Government also saw a £2.7 billion rise in self-assessed income tax receipts to £15.5 billion. The ONS also reported that state spending rose by £5.3 billion to £92.1 billion in July, partly linked to increases to pay and benefits, as well as cost inflation within departments. ONS deputy director for public sector finances Rob Doody said: 'Borrowing this July was £2.3 billion down on the same month last year and was the lowest July figure for three years. 'This reflects strong increases in tax and national insurance receipts. 'However, in the first four months of the financial year as a whole, borrowing was over £6 billion higher than in the same period in 2024.' Chief secretary to the Treasury Darren Jones said: 'We're investing in our public services and modernising the state, to improve outcomes and reduce costs in the medium term. 'Far too much taxpayer money is spent on interest payments for the longstanding national debt. 'That's why we're driving down government borrowing over the course of the parliament – so working people don't have to foot the bill and we can invest in better schools, hospitals and services for working families.'

North Wales Chronicle

an hour ago

North Wales Chronicle

Chancellor will have to raise taxes despite lower borrowing, say economists

Official figures released on Thursday showed that UK state borrowing slowed to £1.1 billion in July, providing some relief for the Chancellor. The Office for National Statistics said the figure, which was £2.3 billion less than the same month a year earlier, is the lowest July borrowing figure for three years. It came after a rise in self-assessed income tax and national insurance payments helped increase tax receipts for the month. Public sector net borrowing excluding public sector banks was £1.1 billion in July 2025. This was £2.3 billion less than in July 2024 and the lowest July borrowing for three years. Read more ➡ — Office for National Statistics (ONS) (@ONS) August 21, 2025 July borrowing was lower than the £2 billion figure predicted by a consensus of economists. Borrowing for the first four months of the financial year stood at £60 billion, £6.7 billion more than during the same period last year. The figures come amid warnings the Chancellor may need to raise taxes again in the budget in order to plug a black hole of up to £51 billion in the public finances. It has been reported that the Government is looking at hitting owners of high-value houses with capital gains tax (CGT) when they sell their family home. The Guardian also reported that the Government is considering an overhaul of the current system on stamp duty on property purchases. Nevertheless, the Labour Government has ruled out increasing income tax, employees' national insurance contributions and VAT, restricting Ms Reeves' options when it comes to raising money. On Thursday, economists said that the latest data was positive for the Chancellor but does not halt the need for potential tax increases or spending cuts. Elliott Jordan-Doak, senior UK economist at Pantheon Macroeconomics, said: 'The Chancellor will still have to raise taxes in October despite borrowing matching official forecasts. 'The big picture remains that the public finances are in chronically weak condition. 'We think the Chancellor will need to resort to sin and stealth tax hikes, duty increases, and a pensions tax raid in order to meet her fiscal rules if she wants to meet her pledge of keeping headline tax rates unchanged.' Matt Swannell, chief economic advisor to the EY Item Club, said: 'Ultimately, it will be the OBR's (Office for Budget Responsibility) projection for borrowing over the coming years, not solely this year, that will determine whether the Government meets its fiscal target, and doing so will very likely require tax rises at the autumn budget. 'The little fiscal headroom left at the spring statement has likely been more than used up by rising bond yields, market expectations for the bank rate, and reversals in plans to cut spending in some areas, such as welfare reform.' The figures showed that central government receipts – the amount of money brought in, typically through taxes – was £100.1 billion for the month, up £8.8 billion against the same month last year. This came as compulsory social contributions, which include national insurance payments, increased by £2.6 billion to £16.3 billion after recent changes to national insurance contributions (Nics) paid by employers. Meanwhile, the Government also saw a £2.7 billion rise in self-assessed income tax receipts to £15.5 billion. The ONS also reported that state spending rose by £5.3 billion to £92.1 billion in July, partly linked to increases to pay and benefits, as well as cost inflation within departments. ONS deputy director for public sector finances Rob Doody said: 'Borrowing this July was £2.3 billion down on the same month last year and was the lowest July figure for three years. 'This reflects strong increases in tax and national insurance receipts. 'However, in the first four months of the financial year as a whole, borrowing was over £6 billion higher than in the same period in 2024.' Chief secretary to the Treasury Darren Jones said: 'We're investing in our public services and modernising the state, to improve outcomes and reduce costs in the medium term. 'Far too much taxpayer money is spent on interest payments for the longstanding national debt. 'That's why we're driving down government borrowing over the course of the parliament – so working people don't have to foot the bill and we can invest in better schools, hospitals and services for working families.'

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Number of jobless young women hits near-decade high

Chancellor will have to raise taxes despite lower borrowing, say economists

Chancellor will have to raise taxes despite lower borrowing, say economists

How many homes in England have air conditioning?

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Number of jobless young women hits near-decade high

Chancellor will have to raise taxes despite lower borrowing, say economists

Chancellor will have to raise taxes despite lower borrowing, say economists

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