LABOUR'S TAX WAR IS HARMING ECONOMY

LABOUR has been accused of setting young people up for "failure" as Rachel Reeves' jobs tax hammers the employment market.

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Some 60% of youngsters fear it will be harder to find well-paid and satisfying work in the next five years, a poll revealed in a reflection of growing anxiety about job prospects.

Just one in four asked by the Adam Smith Institute think-tank voiced optimism that the outlook will improve by the next general election, while 14% expect no change.

Employment gloom affects all regions, with 71% of East Midlands youngsters believing good jobs will be harder to find.

Shadow Chancellor Mel Stride blamed Ms Reeves, claiming her raising employers’ National Insurance contributions in last year’s Budget caused a jobs market stagnation.

He warned: “We should be sending a message to young people that if you work hard, save and do the right thing the system is on your side — that means more opportunities, lower taxes, home ownership. They can see no prospect of any of that.

“Young people need hope for the future. But at the moment they can see a stagnant jobs market and a Government intent on piling up debts for the next generation.

“Measures like the Jobs Tax and new employment regulations will hit younger workers the hardest.” As well as the tax, already effecting the economy, there are widespread fears on how Al is rapidly reshaping the jobs market as top firms use the cheaper tech for tasks done by people including HR and accounting.

Richard Tice, Reform UK’s deputy leader, said the poll proved Labour is failing both young and old. He added: “This should come as no surprise. Labour has tanked the economy and set this country up for failure.