Dáil Éireann Debate, Wednesday - 20 September 2023
225. Deputy Neasa Hourigan asked the Minister for Enterprise, Trade and Employment his plans to increase the maximum weekly amount of €600 used to calculate statutory redundancy payment; and if he will make a statement on the matter. [39624/23]
Amharc ar fhreagraStatutory redundancy is a lump-sum payment based on an employee’s pay and length of service. An eligible employee is entitled to two weeks' pay for every year of service plus one additional week's pay. Weekly pay is capped at €600 per week.
Over the past year the Government has introduced or progressed several measures with the aim of improving working conditions in Ireland. These measures are an important part of building an inclusive economy – particularly one that is attractive to highly mobile labour and skills. These measures are necessary to improve the lives of workers in Ireland and to ensure Ireland is in line with other European countries.
It is important to also be aware of the impact of these measures on employers, particularly in the context of the existing financial pressures on businesses. Any consideration of an increase to the €600 limit would have to be carefully balanced with the overall economic climate and running costs for businesses.
Significant consultation with a number of Government Departments, employer and employee representative groups and other relevant stakeholders would also be required.
