Alastair Darling, the Chancellor of the Exchequer, has announced that the maximum of a week's pay for statutory redundancy payment purposes will increase from £350 to £380. Accordingly, the maximum statutory redundancy payment will rise from £10,500 to £11,400. However:-
- the budget speech is silent about whether the maximum for an unfair dismissal basic award will also increase - it looks like that will stay at £350 (unless added in afterwards when the SI is drafted)
- the Chancellor was silent on when this change will come into effect.