TAX-FREE THRESHOLD FOR REDUNDANCY PAY

Early day motion 1031, tabled 10 March 2009 by Howard Stoate (Labour). Signed by 60 members.

That this House calls on the Government to undertake an immediate review of the tax-free threshold for redundancy pay which has remained fixed at £30,000 since 1989; notes that increasing the threshold to £50,000 as recommended by the TUC would bring it up to the level it would have been had it been up-rated in line with inflation since 1989; and further notes that many people currently required to pay tax on their redundancy payments are older employees who have been with the same employer for a substantial period of time and may need to pay for retraining in addition to their everyday costs before they are able to find new employment.

Signatures by party: Labour 40, Liberal Democrat 8, DUP 3, Independent 2, Plaid Cymru 2, Scottish National Party 2, Social Democratic and Labour Party 2, Conservative 1.