This article was last updated on April 16, 2022
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Confederation of Business Industry (CBI) urges the Government on Monday to boost the living standards of low paid workers through introducing measures to cut taxes and expansion of free childcare for them.
The CBI has also called for raising the National Insurance threshold to help the poor. It has also indicated the squeeze on household budgets over the past few years “cannot go on” for ever as it unveiled a “radical” blueprint for improving living standards in their report “Better Off Britain”.
CBI Director General John Cridland has said that the return of economic growth would not, on its own through a “miracle cure” would improve people’s living standards.
Mr Cridland has conceded that many of the recommendations in the report could have come from trade unions, but business wanted economic growth to work for everyone.
He has said ahead of CBI’s annual conference in London: “I want to see more low paid workers getting the benefit of tax reductions to help with their pay packets.”
He has said: “Even before the recession, the income of a child’s parents determined too many of their own life chances.
“The UK needs to face up to some real long-term challenges changing skills needs, greater global competition and low social mobility mean for many the pathway to a better life is tough and far from clear.”
Mr Cridland has also recommended that the British government could offer immediate help to the needy by raising the threshold of when people pay employee National Insurance to £10,500, which would increase take-home pay of dual-income household by a worth of £363 a year by 2021, and expand free childcare to one and two-year-olds.
The organisation, which represents 190,000 businesses across Britain, has highlighted that an average couple with two children saw their income fall by £2,132 a year in real terms between 2009/10 and 2012/13, while working families, those on low incomes and younger workers have found recent years the most difficult.
The CBI’s deputy director general, Katja Hall has said childcare costs have plunged by 27 per cent since 2010, preventing parents from working or increasing working hours.
The CBI is calling for the current 15 hours of free childcare to be extended from three and four-year-olds to all children aged one and two, and extending maternity pay from 39 to 52 weeks.
Ms hall has also added that businesses should also adopt a presumption in favour of flexibility to help staff save on childcare costs.
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