{
  "$type": "site.standard.document",
  "bskyPostRef": {
    "cid": "bafyreiayy2otzhguzhplidv75afwr7p5xffa6m2bu6fae3xc3mckrxfgem",
    "uri": "at://did:plc:oznbnvgr7dmvddiyvr7dih52/app.bsky.feed.post/3mgs34cbbz242"
  },
  "coverImage": {
    "$type": "blob",
    "ref": {
      "$link": "bafkreigzvwqvs4lfuetloynpj3x66jjegqx6zwmvkf4lccb6zuy7aofm74"
    },
    "mimeType": "image/jpeg",
    "size": 70883
  },
  "path": "/money/rachel-reeves-admits-valid-argument-national-insurance",
  "publishedAt": "2026-03-11T12:54:24.000Z",
  "site": "https://www.gbnews.com",
  "tags": [
    "Rachel Reeves dismisses using public money to tackle oil price spike: 'Not the solution!'",
    "Rachel Reeves faces deadline to cut fuel duty as petrol and diesel drivers dread",
    "Anthony Joshua leaves UK for Dubai despite missile bombardment to avoid Rachel Reeves' tax hikes",
    "The GB News Editorial Charter"
  ],
  "textContent": "\n\n\nChancellor Rachel Reeves has acknowledged that critics have a \"valid argument\" against her decision to increase employers' national insurance contributions while defending the policy as necessary to fund the NHS.\n\nSpeaking before Parliament's Treasury Committee on Wednesday, Ms Reeves accepted that the tax increase has attracted legitimate criticism from businesses and economists.\n\n###\n\n\n\n\nThe Chancellor said: \"I do recognise, and it's a valid argument to say that that should not have happened.\n\n\"But if that didn't happen, we wouldn't have been able to put the money into the NHS and reduce waiting lists.\"\n\n###\n\n\n\n\nTRENDING\n\nStories\n\nVideos\n\nYour Say\n\n###\n\n\n\n\nMs Reeves said the measure, announced in her first Budget in 2024, was required to ensure public services received sufficient funding.\n\nShe told MPs that the policy has helped deliver a £29billion annual funding increase for the NHS.\n\nThe Chancellor appeared before the committee against the backdrop of growing concerns about youth unemployment in the UK.\n\nOfficial statistics released last month showed the number of young people not in employment, education or training has risen close to one million.\n\n###\n\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nFigures from the Office for National Statistics (ONS) recorded 957,000 so-called NEETs aged 16 to 24 between October and December.\n\nThat figure represents an increase from 946,000 in the previous quarter.\n\nMs Reeves acknowledged the scale of the issue and told MPs that youth unemployment presents a particular challenge for the Government.\n\nShe said: \"I do recognise there are particular issues around youth unemployment.\"\n\n### LATEST DEVELOPMENTS\n\n\n\n\n  * Rachel Reeves dismisses using public money to tackle oil price spike: 'Not the solution!'\n  * Rachel Reeves faces deadline to cut fuel duty as petrol and diesel drivers dread\n  * Anthony Joshua leaves UK for Dubai despite missile bombardment to avoid Rachel Reeves' tax hikes\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nHowever, the Chancellor said the current situation largely reflects trends that developed before the present Government took office.\n\nMs Reeves said: \"A lot of that, with respect, we inherited with a big increase in the young people not in education, employment or training.\"\n\nThe Government is planning several measures aimed at addressing the problem.\n\nMs Reeves said new initiatives designed to support young people into work will begin next month.\n\nA central part of the strategy involves expanding apprenticeship opportunities targeted at younger workers.\n\n###\n\n\n\n\n###\n\n\n\n\nThe Chancellor also highlighted the Government's youth guarantee scheme.\n\nThe programme promises guaranteed paid employment to eligible young people who have spent 18 months outside education or work.\n\nMs Reeves said: \"We are facing into that with actions coming on stream from next month.\"\n\nThe Chancellor argued that improvements in NHS performance could also have wider benefits for the labour market.\n\nShe said: \"Reducing waiting lists in the NHS is also good for business, because it means that more people are available for work, and the workforce is healthier.\"\n\n###\n\n\n\n\n###\n\n\n\n\nBusinesses have expressed concern about rising employment costs following the increase in employers' national insurance contributions.\n\nSome firms have said the higher tax burden, combined with increases in the minimum wage, has led them to adopt a more cautious approach to recruitment.\n\nSeparate figures published earlier in February by the ONS indicated broader pressure across the labour market.\n\nThe data showed the UK's unemployment rate reached 5.2 per cent during the three months to November.\n\nThe figures highlight the challenge facing the Treasury as it attempts to fund public services while maintaining conditions that support job creation.\n\nOfficials have said the Government will continue monitoring labour market trends as new employment measures are introduced in the coming months.\n\n###\n\n\n\n\n\n\n\n\n\n\n**Our Standards:The GB News Editorial Charter **",
  "title": "Rachel Reeves admits it's valid to say major Budget tax hike 'should not have happened'"
}