Phil Hogan
Ceist:190 Mr. Hogan asked the Tánaiste and Minister for Enterprise, Trade and Employment the cost to the Exchequer and to employers of any proposed changes to the Redundancy Payments Act 1967. [4600/03]
Written Answers. - Redundancy Payments.
Based on the 2002 level of redundancies – 24,328 – the cost to the social insurance fund of statutory redundancy would be in the region of €149 million in a full year. This is an increase of €96 million in the annual cost to bring the new enhanced rates into effect. Employers are entitled to a rebate of 60% of their contributions to the statutory payments.