George Osborne’s plan to offer workers company shares in return for giving up employment rights has been slammed as “awful” by an American group that exists to encourage share ownership.
The National Center for Employee Ownership told me that Mr Osborne’s proposals were a “very bad idea” and that no “rational person” would give up employment rights for a small capital gains tax break.
The California-based NCEO is a not-for-profit group that provides “objective” information to its 3,000 members including companies, consultants and employment academics.
Corey Rosen, the group’s founder, told me that he was an “unabashed advocate of employee ownership” who spent his career making the case for workers to own more stock and options.
“There is a lot of employee ownership in our country,” he said. “But not one of these employees and not one of these plans asks employees to give up any employment rights to get any of the various tax benefits associated with employee ownership.”
The idea had never been suggested in the US, “no one, Republican or Democrat, right or left”, he said. “It simply does not make sense for an employee to give up rights that could potentially be worth a great deal of