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18/12/2008
TUC: Increase tax-free limit on redundancy pay |
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The Trades Union Congress (TUC) has called on the government to increase the tax-free limit on redundancy pay to £50,000.
At present, people can receive up to £30,000 before taxation kicks in and the TUC also wants the government to adhere to its 2005 manifesto commitment and review the limit at which statutory redundancy pay is calculated.
The TUC proposes increasing it from £330 to £500 a week.
A prediction from the TUC claims that unemployment rate will hit six per cent for the first time since June-August 1999 and it is forecasting the two million people will be out of work by Christmas.
Brendan Barber, general secretary of the TUC, says: "Two million people are set for a very grim Christmas this year, many of whom will have also spent last Christmas on the dole.
"They are blameless victims of a worldwide economic downturn and deserve to be treated as such," he added. |
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