Urging the Chancellor to prevent a million children from ending up in an unemployed state or becoming obsolete.
Trading 212 and other DIY investing platforms, such as Interactive Investor, AJ Bell, and Hargreaves Lansdown, are well-known for providing individuals with the tools to manage their investments. However, one of their bosses, Christopher Nieper, has turned his attention to a different challenge: youth unemployment in the UK.
In a letter coordinated by Nieper and the Jobs Foundation charity, more than 125 senior business leaders, including JCB chief Lord Bamford, City tycoon Lord Spencer, property mogul Jamie Ritblat, grocery entrepreneur Sean Ramsden, venture capitalist Jon Moulton, Toyota UK, and the Rigby Group, have urged Chancellor Rachel Reeves to take urgent action to combat the issue.
The proposal, if implemented, would introduce a skills tax relief policy aimed at incentivizing employers to hire and train young people who are currently Not in Employment, Education, or Training (NEET). The policy suggests a 40% tax credit for businesses that hire and train NEETs, with the aim of providing opportunities and vocational training for these young people.
The rationale behind this proposal is that the current cost of inactivity linked to NEETs—comprising welfare spending, lost productivity, and unfulfilled economic potential—is "unsustainable." The tax credit initiative is estimated to unlock up to £23 billion in savings for the Treasury by reducing benefit costs and increasing tax revenue through higher employment levels.
The approach positions businesses as key partners in delivering youth employment solutions rather than relying solely on state welfare. This proposal reflects growing recognition among policymakers and the business community that investing in vocational skills and early career development is both a social and economic imperative amid a tight labour market and a youth unemployment crisis nearing one million.
The letter, which will be delivered to the Chancellor today, warns about the risk of a million young people becoming a wasted generation if no action is taken. The cost of the NEETs crisis to the economy is not just in welfare payments but in lost productivity, unfulfilled potential, and long-term damage caused by early unemployment.
It's worth noting that Nieper himself has shown commitment to this cause. He has rescued a failing school in Derbyshire, which claims to have helped all 18-year-old pupils secure a job or further education.
In summary, the Nieper and Jobs Foundation proposal seeks a government-backed financial incentive—a skills tax relief—to motivate businesses to hire and train young people who are currently NEET, thereby addressing youth unemployment and associated economic costs in the UK. The letter urges urgent action to prevent huge numbers of young people from being 'destined for the scrapheap.'
[1] Source: The Telegraph [2] Source: The Guardian [3] Source: BBC News [4] Source: The Independent [5] Source: The Financial Times
- Business leaders, such as Christopher Nieper, advocate for a skills tax relief policy to incentivize employers to invest in vocational training for young people currently not in employment, education, or training (NEET), recognizing the unsustainable cost of inactivity and the potential savings of up to £23 billion for the Treasury.
- In a letter to the Chancellor, senior figures in business, finance, and education-and-self-development sectors, like JCB chief Lord Bamford, city tycoon Lord Spencer, property mogul Jamie Ritblat, and entrepreneur Sean Ramsden, urge action to combat youth unemployment, suggesting a 40% tax credit for businesses that hire and train NEETs.
- As part of his commitment to addressing youth unemployment, Christopher Nieper, one of the trading platform bosses, has taken on the challenge of rescuing a failing school in Derbyshire, ensuring that all 18-year-old pupils secure a job or further education, demonstrating a personal role in both business and education-and-self-development.
