The economic downturn has increased competition in the labour market. An improvement in redundancy payments is required in the wake of such economic uncertainty. One of the partnership agreement's key commitments is to increase the level of statutory redundancy payments. This Bill will provide for two weeks' statutory redundancy payment for every year of service. This is an improvement on the current requirement of one week of redundancy payment for every year of service for those aged 41 or over and half a week's payment for every year of service for those aged under 41. The substantial increases in redundancy payments represent a clear illustration of the Government's commitment to social inclusion and protection.