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Shares for all workers
Key points
- Companies with more than 250 employees would have to operate an inclusive ownership fund.
- The effect of the fund would be to raise corporation tax paid by companies.
- It is unclear whether employees would have voting rights.
- Would companies with fewer than 250 employees be discouraged from growing?
One of the core policies of the Labour party and expected to be included in its manifesto is the inclusive ownership fund. In essence this would require all companies with more than 250 employees to give ‘shares’ to them. This would represent around £300bn of company shares and affect about 7 000 UK companies. The scheme would in effect lead to a significant rise in corporation tax for many companies.
The proposal is that these funds would accumulate shares at a rate of 1% a year to a suggested maximum of 10%...
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