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Budget 2012 and the HR implications

The Budget has significant implications for all employers with the following significant changes:

1) VAT increase – this has an impact on the overall cost of resourcing, particularly for employers who contract in sole traders and contract resources

2) Social Welfare sick pay cost – this was NOT passed onto employers as initially feared. A major relief as this would have been a devastating cost particularly to small employers

3) Reduction of Redundancy Rebate – the statutory redundancy rebate as been reduced from 60% to 15%, imposing an additional estimated €81 million onto employers

For any advice or questions about the changes, contact us directly at 01 5252914 or contact@voltedge.ie