DWP could deliver '£1.6 billion' tax windfall if one group goes back to work

manchestereveningnews.co.uk:

In the first fortnight of Labour's new reign, the Department for Work and Pensions (DWP) has unveiled significant reforms aimed at reintegrating some of the 9.4 million 'inactive' workers into the workforce.

These changes align with Sir Keir Starmer's strategy to stimulate growth and enhance funding for public services. However, it's the over-50s demographic that could particularly benefit from targeted employment support, potentially growing the economy by £9 billion if they can be put back in the workforce.

This would equate to £1.6 billion in further income tax receipts. This is why the Centre for Ageing Better is calling on Labour to tailor employment support towards the over-50s, a group that saw many members leave the workforce during the Covid crisis.

This cohort accounts for an astonishing 40 per cent of all those not in employment and could generate much-needed tax revenue for Chancellor Rachel Reeves if they were assisted back into work, reports the Mirror. READ MORE: Graduates warned they could be owed £1,000s on student loan overpayments Liz Kendall, the newly appointed DWP Secretary, revealed a series of initiatives as part of the 'Back to Work Plan' during her visit to a Jobcentre in Leeds last Friday.