YOUNG PEOPLE’S INACTIVITY COSTS UK BUDGET EUR 145.9 BILLION

LONDON, AUGUST 10 /SRNA – RIA Novosti/ – The UK budget loses around £125 billion /approximately €145.9 billion/ annually because of a segment of the young population who are not in education, employment or training, The Guardian reported.

Around one million people in the UK fall into the category of young people who are not in education, employment or vocational training.

Years of austerity measures are cited as one of the main causes, as this generation grew up in the aftermath of the 2008 financial crisis and during the COVID-19 pandemic, facing cuts to public services, rising living costs and the revolution brought about by artificial intelligence.

According to the newspaper, employing more young people would significantly improve the prospects of millions of people, while also stimulating economic growth and improving public finances.