Business Matters

Lord Wolfson, Chief Executive of Next and a Conservative peer, warns Britain is facing a crisis in entry-level employment. Applicants for every shop vacancy at Next have almost doubled from 10 to 19 in just two years — a trend he describes as “indicative of just how big the crisis is in youth unemployment.” Across retail and the wider economy, he says there has been “a dramatic fall in entry-level employment opportunities” as rising National Insurance and National Living Wage costs push up the cost of hiring younger and less experienced workers. UK youth unemployment has now reached 15%.The crisis, he argues, will deepen under the Employment Rights Bill. Restrictions on flexible part-time working mean retailers risk being locked into permanent contracts when offering extra hours at Christmas or during university holidays. The result, Lord Wolfson says, will be fewer opportunities for students and reduced service for customers — consequences, he says, the government never intended. The legislation was “cobbled