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Budget Special: increase in redundancy payments

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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.

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