Except it isn't a little more
An 18 year old FT worker on minimum wage will now cost:
£19,500.00 Gross
£2,175.00 Ers NI
TOTAL = £21,675.00
A 21 year + FT worker on minimum wage will now cost:
£23,809.50 Gross
£2,8,21.43 Ers NI
£527.09 Ers Pension
TOTAL = £27,158.01
For an 18 year old they will see an increase of £2,730 to their gross pay. The employer will see a increase of £3,846.54 to their cost.
For a 21 year + FT worker, FT worker they will see an increase of £1,501.50 to their gross pay. The employer will see a increase of £2,545.27 to their cost.
The Er NI rise for an average FT worker over the age of 21 will be £998.72
Now imagine you run a cafe or such and you employ 1/2 people and turnover £85k. Now to stand still you have to get your turnover over £90k - which means VAT registration. If your customers are not VAT registered then you have to suck it up - or put your prices up by 20%.
Its one of the singularly most stupid ideas to "boost growth" anyone has ever had.
And it's unfair to call her "Rachel from Accounts". No accountant would have been that stupid.