Originally Posted by
763 jock
Daft thing is the statutory redundancy bill for the Treasury is likely to be in excess of £50 million just for Thomas Cook UK. Lost PAYE, VAT on wages spent plus all the fallout on suppliers and their employees and £200 million doesn't look like a lot of money.
But under no illusions, the government won't be stepping up and neither should they.
Well the UK redundancy payment is capped at £525 a week for a max of 8 weeks, is subject to 12% NI (and basic tax at 20% if paid in the tax year of redundancy), and if Monarch is anything to go by won't be paid for almost two years!