The Government has announced the new limits on certain Employment Tribunal awards. The two key changes to be aware of are:
- The limit on the compensatory award for "ordinary" unfair dismissal will increase from £72,300 to £74,200; and
- The maximum amount of a week's pay for the purposes of calculating statutory redundancy payments and the basic award in unfair dismissal claims will increase from £430 to £450.
These new limits will apply to dismissals which take place on or after 1 February 2013.