Statutory redundancy pay (SRP) increases by the rate of inflation every February and this year’s increase saw it rise to £350 per year of service. However, unusually, in the last budget the Chancellor increased it again to £380 per week, although he did not specify a date for the implementation. He has now done so and, from 1st October next, the increase will take effect. The measure was introduced to provide greater support to those people made redundant; whether it will do that seems unlikely in most cases, whilst increasing the burden on employers.