The different political parties are all busy campaigning and making promises in the run up to the elections. Labour have recently announced that if elected in May they will increase paid paternity leave from two to four weeks. They have also pledged to increase statutory paternity pay by more than £120 a week to £260 a week. This would see new fathers paid the equivalent of a forty hour week on the minimum wage for this time off. This would clearly be great news for those planning to start or expand their family.
Whatever your political views none of us know for sure what the outcome of the elections will be. However contractors registered with compliant, reputable umbrella companies like Exchequer Solution can be certain that whatever new benefits may come in to force they will be entitled to all the benefits and rights that come with official employment status. This already makes a huge difference to individuals who, for example are looking for a mortgage, have to take time off due to illness or those who take paternity or maternity leave.
Any new benefits which may become policy following the election in May will automatically be applied for all of our contractors just as they would to anyone working in traditional employment.
If you have any questions about paternity or maternity benefit please contact one of our team on 01244 500195.