John Key has just announced that a new scheme involving trading in holiday entitlement for cash may be in effect by April 2010.

Currently, employees are entitled to 4 weeks of paid annual leave but under this new legislation, employees will have a choice: holiday or cash. If an employee so chooses, he or she can forgo the fourth week of annual leave for a week of regular hours and an extra paycheck. In the current economic climate, Key believes that this may be a popular option for many; while several unions are convinced that it is simply a move back to the archaic three weeks holiday leave system.

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