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Budget increases statutory redundancy payments

Although details are scarce, the Chancellor announced in last week’s budget that the value of statutory redundancy payments is to increase to £380 from the current £350.

In a frightening lack of information, it is not yet clear when this is to be applied, whether a threatened ‘floor’ to redundancy calculations will be imposed and whether there will be a consequential effect on the unfair dismissal awards currently running at record levels in the Tribunals (see ‘People Matters’ April). Watch this space…