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.”
- Liberal Democrat manifesto - detailed costings published
- Poll sensation for Jo Swinson - new poll shows she's ahead of SNP in tight race
- That's not how we used to do politics in the Highlands: SNP candidate takes supporters on aggressive visit to Charles Kennedy's office
- Nick Clegg's BBC1 interview - Evan Davis disappoints with constant references to Clegg's multi-national background
- Why Labour and Conservative supporters should vote Liberal Democrat
- That two horse race is on: Scottish Ashcroft polls show it’s Liberal Democrats against the SNP (Caron Lindsay)
- Opinion: This isn’t just an economic recovery, this is a Liberal Democrat economic recovery (George Crozier)
- Why Labour and Conservative supporters should vote Liberal Democrat (Joe Otten)
- Opinion: A manifesto for young people (Ryan Mercer)
- Lord Navnit Dholakia writes..Lib Dem BAME manifesto takes pro-active approach to valuing different cultures, combating racism and reducing inequality (Lord Navnit Dholakia)
- Their blood cries out from the depths
- Election deadline coming up: apply for new postal or proxy vote by 5pm Tuesday
- Why Vote: It Encourages Them
- Let's stay on the road
- Liverpool – Moorfields V Exchange Stations – No contest in terms of best view
- On the mooted return of Top of the Pops
- Creeting St Peter - @jemnicole1 has a leaflet put through our door...
- Opinion poll scorecard: latest voting intention figures from each firm 19/4
- Christian Aid endorses Liberal Democrat manifesto
- Lib Dem Manifesto
- Alex Sabine 19th Apr - 6:24pm
You may be right that I am underplaying how bad it is going to be for the Lib Dems. We'll have to wait and see....
- Michael BG 19th Apr - 6:20pm
If someone wants a majority Labour or Conservative government then they should vote for the party they support. If they want to see the Liberal...
- Stephen Hesketh 19th Apr - 6:01pm
Tabman 18th Apr '15 - 3:39pm Tabby, setting aside John Tilley once again having a much clearer view of Liberal Democracy than your frequently 'tail...
- Philip Thomas 19th Apr - 5:54pm
Not deeper cuts, higher taxes. I agree if we are down to (say) 28 MPs it does get very difficult to form a coalition and...
- David Allen 19th Apr - 5:53pm
The reason why an SNP / Labour coalition is a scare story is simple: The Tories always need a scare story if they are to...
- Martin 19th Apr - 5:41pm
Joe Otten: (I missed your reply to me yesterday) - I should have been clearer, I was particularly thinking of Scottish seats where I am...