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Redundancy Payments

Treasury written question – answered at on 16 March 2005.

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Photo of Mr Colin Pickthall Mr Colin Pickthall PPS (Rt Hon Jack Straw, Secretary of State), Foreign & Commonwealth Office

To ask the Chancellor of the exchequer what plans he has to raise the threshold at which tax is paid on redundancy payments.

Photo of Dawn Primarolo Dawn Primarolo Paymaster General (HM Treasury)

The Government keep the £30,000 tax exemption for redundancy payments under review along with all other aspects of the tax system.

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Chancellor of the Exchequer

The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.

The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.

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