The English & Welsh and Scottish Law Commissions' joint paper on "Unfair terms in contracts" of February 2005 noted above includes a draft new Unfair Contract Terms Bill with full Explanatory Notes. The vast bulk of both the paper and the draft Bill is, of course, concerned with "normal" consumer contracts and has nothing to do with employment law.
However the paper does includes specific consideration of the way in which employment contracts can be affected by unfair contract terms legislation (see paras 6.2 to 6.10 and 8.70 and 8.71).
In summary, the Law Commissions' employment related proposals are that regardless of the general provisions of any new Act employees should be free to restrict their liability for negligence to their employers, that "controls over employment contracts should be preserved when the employment is on the employer’s standard terms of employment" but that as a general rule consumer protections should not be extended to employees as such.
See also notes at Implied terms in employment contracts/a general introductory note