We updated you in our October ebulletin about the Government’s proposals to create employee owners, who will exchange specific employment rights for shares in the company they are employed by. Our article on the proposals can be found here.
A consultation was released by the Department for Business, Innovation & Skills on 18 October 2012 and lasted just over 2 weeks, which is a very short period of time by the usual standards. The Government released its response to the consultation on 3 December 2012. The responses to the consultation showed that very few of the respondents were in favour of the proposals, but despite this the Government is going ahead anyway. They plan to bring the proposals into force very quickly – by 6 April 2013. Read more