Labour to offer private sector employee ownership plan

Employee ownership schemes in large companies could result in almost 11 million workers being given up to £500 a year each, in plans to be expanded upon by the shadow chancellor on Monday.
Under the scheme, every company with 250 or more employees will be expected to create an “inclusive ownership fund” (IOF) under a future Labour government, John McDonnell will say.
Additional income would be capped at £500 according to the plan to make employees part-owners of their companies. Any further dividends would go to a national fund to pay for public services and welfare, in an effective new... read more