General Election May 2015

Labour has announced further intended changes to employment law which will be included in its election manifesto.  They focus on assisting young people to get into work and on the living wage. Labour is also focussed on reform of the banking system.

Labour will guarantee apprenticeships for 18-year-olds who achieve "the right grades". Labour will also require:

•    Every firm that wins a major government contract to offer apprenticeships. It
      will also consider including this requirement when the government underwrites
      larger projects.

•    Large firms which recruit from outside the EU to invest in apprenticeships in
      the UK.

•    Listed companies to report on whether they pay the living wage. Labour intends
      to use government contracts to increase the payment of the living wage.

The Labour Party has also published a new report, Labour's Plan for Banking Reform, which sets out various proposals for reform of the British banking system. These include lengthening the clawback period for bankers' bonuses to at least ten years after they are paid and extending clawback provisions to cover base salaries, as suggested by the Financial Conduct Authority.

None of the other major political parties have made further announcements about policies that might impact on employment law since our last newsletter, however we will report on future developments in the run up to the General Election.

If you would like to discuss this or any other employment issue, please do not hesitate to contact any member of the Employment team.