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Redundancy Pay set to Increase
In the Budget on 22 April 2009, the Government announced a 'one off' increase in the maximum week's pay that can be taken into account when calculating a statutory redundancy payment from £350 to £380. The maximum statutory redundancy payment that an employee can receive will increase from £10,500 to £11,400. This increase is expected to come into force on 1st October 2009.