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Liberal Democrats help businesses employ young people locally

The Welsh Liberal Democrat Assembly Member for South Wales West, Peter Black has welcomed plans to abolish employers' National Insurance Contributions (NICs) for under 21 year olds which were announced as part of the Chancellor's Autumn Statement.

The change means businesses will no longer have to pay tax on their employees aged under 21. For example, companies will save £1,000 each year for every young employee earning £16,000.

In South Wales West the plan to abolish NICs for young people from April 2015 means companies will not have to pay the contributions for 24,450 young people, 12,290 in Swansea, 5,570 in Neath Port Talbot and 5,570 in Bridgend.

Mr Black said:

"The drive to help young people get jobs in Swansea, Neath Port Talbot & Bridgend will be boosted by this initiative. Welsh Liberal Democrats are focused on getting young people into work and this is exactly the kind of initiative needed to give businesses a break and encourage them to start recruiting.

"Since 2010 we have already helped create more than 1.5m new apprenticeships throughout the UK. Meanwhile, Nick Clegg's £1bn Youth Contract is supporting work experience, wage incentives and apprenticeships.

"Our economy is growing because of the efforts of working people and local businesses. They deserve further help. The coalition's economic plan is the rock on which our recovery is being built - and it is happening because of the Liberal Democrats."

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