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Nick Clegg Urges Companies to Offer Shares to Employees (19 January 2012)

Date: 19/01/2012
Duncan Lewis, Legal News Solicitors, Nick Clegg Urges Companies to Offer Shares to Employees

The Deputy Prime Minister, Nick Clegg, has called for an increasing number of companies to offer their employees with a chance to buy shares, claiming that in doing so, productivity and growth will be improved. He has told of how the Government plans to reduce the amount of red tape and overhaul the tax system in order to accommodate employee ownership.

The Shadow Business Secretary, Chuka Umunna, claimed that Mr. Clegg was encouraging responsible capitalism. Mr. Clegg has told of how he believed that too few employees had capital, adding that the country needed an increased number of employees to have a stake in their own companies. Mr. Clegg believed that many employees do not realise the potential of employee ownership as a means to unlock growth. He believes that firms that have engaged their employees in the purchasing of shares can prove just as dynamic as their competitors, stating that many firms perform better.

Ministers have recently announced plans to provide shareholders with greater powers to curb their executive’s pay packets. The Government's full boardroom reforms are yet to be unveiled. The Liberal Democrat’s Business Minister, Ed Davey, is set to spearhead work relating to the removal of employee ownership barriers. The Liberal Democrat’s Chief Secretary to the Treasury, Danny Alexander, is set to study the associated tax arrangements.

Duncan Lewis’ employment law solicitors possess extensive experience of handling employment law matters on behalf of both employers and employees. The team is proud to possess extensive and comprehensive experience and knowledge of employment law in a variety of industry sectors.

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