Overview

This bill mandates the Treasury to create regulations limiting exit payments for public sector employees. These regulations, to be implemented by April 1st, 2019, can retrospectively apply to payments made since April 1st, 2018.

Description

This bill compels the UK Treasury to draft and present to Parliament regulations limiting exit payments given to public sector workers. These regulations will be created under the existing powers granted by Section 153A of the Small Business, Enterprise and Employment Act 2015.

A key aspect is the bill's retroactive effect. The first set of regulations issued by the Treasury under this bill can apply to exit payments made from April 1st, 2018, onwards. This means that even payments already made could be subject to review and potential adjustments under the new regulations.

The bill's geographical scope extends to England, Wales, Scotland, and Northern Ireland.

Government Spending

The bill itself doesn't directly specify a sum for government spending. However, by limiting exit payments, it is intended to reduce government expenditure. The exact amount of savings will depend on the specific regulations created by the Treasury and the number of exit payments affected.

Groups Affected

The bill primarily affects:

• Public Sector Employees: Their exit payments may be capped or reduced under the new regulations.
• Public Sector Organisations: These bodies will be required to comply with the new regulations when making exit payments.
• The Treasury: They are responsible for drafting and implementing the regulations.

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