08 November 2012

The IER responded to the government's unusually short consultation on its shares-for-rights proposals.

Authors Nicola Countouris, Jeremias Prassl and Mark Freedland say:

"Our conclusions are that the new proposed status is unnecessary, harmful to workers and employers’ interests alike, marred with legal pitfalls that could result in litigation costs, and possibly contrary to EU law. Ultimately it amounts to a socially regressive reform proposal, where workers will be bearing all the risks associated with the holding of shares without enjoying any of the benefits typically deriving from employment, self-employment, or share-ownership. It is hoped that the proposed reforms, completely divorced from the needs of British society, will never see the (legislative) light of day."

Click here to read and download the full consultation response