Move to increase statutory redundancy pay is misguided, says FPB
The Forum of Private Business (FPB) has warned that a proposal to increase redundancy pay could result in businesses having to close.
The Statutory Redundancy Payment (Amendment) Bill proposes raising the maximum week's pay to calculate Statutory Redundancy Pay from £350 to £500, an increase of 43%. Phil Orford, chief executive of the FPB, said: "The proposal, apparently to protect workers, is misguided because it would increase unemployment by forcing many businesses to close that might have survived had statutory redundancy pay been left alone."
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