Responding to recommendations made by Graeme Nuttall in his independent review of the sector, the Government has approved plans for a range of activity that will help to grow the number of businesses that become or convert to the employee ownership model.
The plans include assessing whether to establish an independent Institute for Employee Ownership, an ‘off the shelf’ model for setting up an employee owned business, work to examine the guidance on tax issues relating to employee ownership, a guide for staff and employers to request and agree an employee ownership takeover and work with the John Lewis Partnership to examine the barriers to funding for private sector employee owned companies.
Deputy Prime Minister, Nick Clegg said:
“Businesses that are owned by their employees produce more, grow faster, keep their workforce happier, and pay staff more fairly. Graeme’s report makes clear that sharing ownership means sharing success.
“Our economy suffered a massive heart attack – now we have to build our strength back up. To pump oxygen back into the system and get Britain working again, it’s got to be out with the old and in with a new more diverse economy that is fairer for all.
“The plans we’re setting out today are the first important steps in boosting this burgeoning sector.”
Jo Swinson said:
“There has never been a more important time to create the right environment for different ways of running a business. Employee-owned companies have proved to be flexible and resilient during tough times, and have a clear role to play in securing long-term economic growth. So I’m very pleased to be taking the first steps to implementing Graeme Nuttall’s recommendations.
“Graeme set us a challenging agenda and our response is equally ambitious. We will address one of the biggest barriers to take-up of employee ownership schemes: awareness that it exists. We will improve access to the information and help people understand what they need to start up and run an employee-owned business. And we will clarify what practical steps businesses need to take in order to become employee owned, as well as encouraging more business owners to consider it. We will develop helpful toolkits for employees to use when requesting employee ownership, and to help employers when agreeing to it. Our action plan will boost employee ownership in the UK and help give new impetus to a business model we want to see thriving across the country.”
- Observations of an ex pat: China at the crossroads (Tom Arms)
- Lib Dem members must all do their bit in this election (Callum Robertson)
- Campaign contrasts: land of hope and fears (Ben Westwood)
- Tim Farron commitment to end homelessness – reason to be proud, but also conscious of a great challenge (Paul Walter)
- Election diversity – as if by magic (Teena Lashmore)
- 2017 General Election Day 12: Will the Fury From The Deep arrive in Clacton?
- My plan to protect the West of England from a damaging Brexit
- My plans for West of England skills for a thriving economy and cohesive society
- My plan for building affordable homes and sustainable communities
- West of England Devolution - the next steps
- The Gas Office, St Mary's Road, Market Harborough
- April books
- Business Insider names nine MPs at risk of an anti-Brexit Lib Dem revival at the general election
- Slideshow: Bonnie the Lib Dem cockapoo captures the spotlight in Cambridge
- Andrew McCaig 1st May - 12:18am
Andrew T Yes, that poll should be enough to change the emphasis onto staying in the Single Market if our Party strategists have any sense.....
- Andrew McCaig 1st May - 12:15am
It is perfectly possible to campaign to stay in the Single Market and to offer a referendum on the terms with an option to Remain....
- nigel hunter 30th Apr - 10:32pm
Does not Davidson know that the spaniel is boss. Doggy will smell Tim and pass him fit for Government!! 'Smell my spaniel.' More honest than...
- Jennie 30th Apr - 9:51pm
Thank you xx
- Ruth Bright 30th Apr - 8:37pm
Purely from her Sunday political television appearances today I thought she was largely mainstream Lib Dem but with a better turn of phrase! Tim Farron...
- Richard Underhill 30th Apr - 7:49pm
Labour may lose their moderate MPs while the hard left survive.