16 January 2012 #Employment
Deputy Prime Minister, Nick Clegg has today announced plans to bring in a new universal right for employees to request to buy shares in the company they work for. Well known business John Lewis already operates this model, with employees owning shares in the company.
Mr Clegg says of the scheme: “Liberals believe strongly in the virtues of the market but only if it is a market for the many, not a market for the few...We don`t believe our problem is too much capitalism. We think it`s that too few people have capital... We need more individuals to have a real stake in their firms. More of a John Lewis economy, if you like.”
According to Mr Clegg, by using this approach John Lewis has lower levels of absence, staff turnover and production costs.
Mr Clegg will host a summit on the issue later in the year. You can read more on this story here.