Exodus from workforce costs UK ‘£16bn a year’ in lost tax receipts

Institute for Employment Studies says UK has 800,000 fewer people in work or looking for work since before CovidThe UK has suffered the biggest contraction in its workforce since the 1980s, costing the public finances at least £16bn a year in lost tax receipts, according to a study.Hundreds of thousands of people have quit the labour market since the pandemic and never returned, undermining the strength of the economy and leaving the government out of pocket, according to the Institute for