Ford Motor Company: Bridgend

(asked on 10th June 2019) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate he has made of the value of reducing tax deductions from redundancy payments to workers at Ford Bridgend; and if he will make a statement.


Answered by
Jesse Norman Portrait
Jesse Norman
This question was answered on 13th June 2019

The Government confirmed in Finance (No. 2) Act 2017 that the first £30,000 of all termination payments remain exempt from income tax. The UK has one of the most generous tax exemptions for termination payments in the OECD, and around 80% of the termination awards made each year will remain completely free from income tax.

HM Revenue and Customs does not have the data available to make an estimate on the cost of reducing tax from redundancy payments for Ford, Bridgend.

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