House of Commons votes to reinstate employee-owner scheme
The House of Commons has voted to reinstate the Government's proposal to introduce employee-shareholder contracts.
This follows the House of Lords' recent vote to remove s.27 of the Growth and Infrastructure Bill, which would amend the Employment Rights Act 1996 to create a new tier of employment status, employee owners, who would receive shares exempt from capital gains tax, in return for giving up specified employment rights, including the right to unfair dismissal.
Prior to the House of Lords' vote against the proposal, the Government confirmed in the Budget on 20 March 2013 that the scheme would be introduced on 1 September 2013.
The proposal will now return to the House of Lords for further debate.
- House of Commons debate on employee shareholders Read the House of Commons debate on s.27 of the Growth and Infrastructure Bill regarding employee shareholders on the Parliament website.
- House of Lords debate on employee shareholders Read the House of Lords debate on s.27 of the Growth and Infrastructure Bill regarding employee shareholders on the Parliament website.
- Budget 2013 (PDF format, 3.2MB) Download the complete Budget 2013 document from the HM Treasury website.
- Growth and Infrastructure Bill Read the Bill on the Parliament website.
Also
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