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.”
- Actually, this having the World Cup in England might be a good idea
- Lib Dems publish latest accounts: £439k surplus and membership up to 43,451
- The Lib Dem retreat to seat-by-seat campaigns. The right tactic, but not a long-term strategy
- Opinion: What is HAMAS's game plan?
- Opinion: Who are the terrorists?
- Cleaning up politics is about more than money (Caron Lindsay)
- Labour kicked out in Calderdale: The inside story (James Baker)
- What a waste of an interview with Jo Swinson! (Caron Lindsay)
- Greg Mulholland MP writes…Celebrating our county’s riches on Yorkshire Day (Greg Mulholland MP)
- Actually, this having the World Cup in England might be a good idea (Caron Lindsay)
- Lib Dems fighting to keep university courses in Newport
- Cambridgeshire County Council 'Last Day Of Peace' Event ** TOMORROW **
- No, You're Not Going To Get Ebola
- This week
- The Liverpool Overhead Railway
- Israel/Gaza - the horrific numbers
- Nick Clegg: Israel must open talks with Hamas
- More haematology
- Belfast Pride 2014
- Clegg: Israel must open talks with Hamas
- Stephen Hesketh 2nd Aug - 6:18am
Richard, following your question to me, "is that a typical example of a Lib Dem response to criticism", I awoke this morning with a thought....
- David-1 2nd Aug - 4:25am
For what it is worth (and I'm afraid it's worth very little) I support Caron — and I strongly support bettering the quality of political...
- T-J 2nd Aug - 4:25am
@Richard Dean The politician's trick of using a non-apology apology (its never usually a real apology if the word 'sorry' is immediately followed by the...
- Alex Dingwall 2nd Aug - 1:49am
From the Scottish Government: Question: Will universal postal services be maintained in an independent Scotland? Answer: Yes. This Scottish Government recognises the importance of postal...
- Richard Dean 2nd Aug - 1:44am
@Mark Did you notice that your three-word sentence can have several meanings? Maybe if you do, you might start to understand how awful the piece...
- Mark Valladares 2nd Aug - 1:21am
Richard, I think not.
Sun 3rd Aug 2014
Thu 7th Aug 2014
Thu 14th Aug 2014
Thu 21st Aug 2014
Thu 28th Aug 2014