Answer from Hansard

The Parliamentary Under-Secretary of State for Business and Trade (Justin Madders)

The Employment Rights Bill is the next phase of delivering our plan to make work pay. The Bill is both pro-worker and pro-business, and will see significant benefits for employers. For example, increased worker wellbeing could be worth billions of pounds a year. The Bill will also reduce workplace conflict, which, according to a report published by ACAS in 2021, costs employers around £30 billion a year. The Bill will level the playing field so that those employers who are engaged in good business practice are not forced into a race to the bottom.