Burton sees €50m redundancy pay saving

SOCIAL Protection Minister Joan Burton believes more than €50 million can be saved by cutting the share of redundancy payments picked up by the state.

Under current rules, the exchequer pays for 60% of a redundancy package when a person loses their job, which is paid out of the Social Insurance Fund.

But Ms Burton wants to reduce this to 30% in a move that is expected to be met with strong opposition from business groups.