The new employment rights bill, which is set to strengthen workers’ rights, is estimated to cost businesses nearly £5bn per year. The Department for Business and Trade claims that the benefits of the bill will justify this cost, as it will lead to improvements in job satisfaction, wellbeing, and health for workers. The economic analysis provided by the government suggests that the direct costs imposed on businesses will be outweighed by the positive impacts on society, including reduced days lost to stress, depression, and anxiety.
While some businesses may incur additional costs due to the new regulations, the government asserts that the overall gains from the bill will be significant. The bill aims to address issues identified by the independent Taylor review of modern working practices and target improvements for workers in sectors such as adult social care and those facing discrimination or insecure employment.
In response to concerns about the bill’s impact on businesses, the government’s assessment acknowledges that costs may be passed on to customers or result in reduced investment or training. However, the report emphasizes the potential benefits of the bill in creating fairer and more equal working conditions across Britain.
Overall, the government is confident that the employment rights bill will have a positive impact on workers, businesses, and society as a whole. The bill is currently undergoing scrutiny in the Commons, with the government urging a focus on the long-term benefits that the legislation can bring to the UK workforce.
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