Tuesday, 18 December 2012

Redundancy notice period cut to 45 days. And?

So, err, there you are then as at 10.38 am the redundancy notice period (for large scale redundancies) has just been cut from 90 to 45 days.

I only found this out by chance via a noticeably bland BBC article. Reading through it I wondered why this wasn't regarded as big news given its a reasonably chunky change to the employment rights of millions of people with obvious, practical financial and employment implications for those being made redundant e.g. 45 days less pay plus 45 days less to find another job. You know, cheeky stuff like that.

At least the TUC has responded, but then you'd hope they would. Labour? Not yet although there is a "fascinating" piece on the latest inflation stats. The Guardian? Nope.  Not yet.

I don't know. What I do know is it makes clear, in economic policy terms, that the ConDem's have a fixation with "supply-side reform" (as in a euphemism for stripping away employment rights)  whereas (1) the UK economy is contending with a crisis of demand and (2) in terms of labour market flexibility the UK (a) already has a competitive advantage compared to much of the EU and (b) simply can't compete with Asia i.e. this is the product of nasty dogma, not reality, and is in keeping with the kind of policies Tory party donors want. Funnily enough it could also be counter-productive given it will encourage more people to save "just in case". Like if your house was on fire, this policy is the equivalent of someone trying to put it out by crapping through your letter box all the while expecting a please and a thank-you.

A 12.49pm update: So the Beeb is padding out its chat about this using articles dating back to May about how yer asset stripping, tax "efficient", debt-addicted, Tory funding, private equity boy Beecroftwas wanting things like this done. What's notable is the gap between then and now i.e. this appears to have sneaked out or been forgotten about, but hey its only employment rights, what do they matter.


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