According to former prime minister Rishi Sunak, who spoke to the BBC, governments should do away with national insurance in order to make hiring workers more appealing, as the labor market for young people is becoming flatter due to artificial intelligence (AI).
Although Sunak is enthusiastic about the revolutionary potential of AI, he acknowledged that recent college grads seeking entry-level positions have valid fears. Sunak currently serves as an advisor to AI companies Anthropic and Microsoft.
According to him, upper-level management has been telling him behind closed doors that technology is making it harder to attract new talent.Concern and planning for the future are valid emotions. However, he assured them that they could take action.
Sunak proposed equalizing taxes by doing away with National Insurance “over time” and substituting taxes on business earnings. Productivity and efficiency in AI deployment, he argued, will improve these.
According to Sunak, the service industries, including accounting, law, and the creative industries, are becoming more difficult for young people to break into. At the same time, he claimed that CEOs have informed him that “flat is the new up.
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