Conservative Party Pledges National Insurance Cut for Youth

The Conservative Party pledged on Tuesday to halve the main rate of employer national insurance for workers aged 21 to 24, reducing the rate to 7.5%. The policy aims to combat rising youth unemployment and restore the party's reputation for economic competence.

The plan is estimated to cost 2.3 billion pounds annually and will save businesses an average of 1,545 pounds per young employee. The party is scheduled to provide details on how the plan will be funded on Wednesday.