YBF graduate Ryan Bourne has written an excellent piece over on the Centre for Policy 
Studies website about the economic benefits of a ‘no fault dismissal’ employment policy:
“It seems like the Beecroft Report is set to cause an almighty row within the Coalition. As all agreed on last night’s Newsnight discussion, the vast majority of the report is not contentious and is very similar to Dominic Raab’s excellent CPS pamphlet Escaping the Strait Jacket . The main point of disagreement appears to be on the reforms surrounding ‘unfair dismissal’.
Beecroft proposes that current unfair dismissal legislation should be abolished and replaced by a new compensated no fault dismissal. This has been portrayed by some in the media as a ‘hire and fire’ policy. But Beecroft specifically ruled out allowing dismissal of employees at any time whilst paying the employee only for his or her contracted notice period.
Instead what Beecroft proposes is essentially to extend redundancy arrangements to allow firms to move on employees even when the job would continue to exist. Employees would get the same notice period and termination payments as if they were being made redundant. Laws will still exist to protect those who feel they have been dismissed because of discrimination.”