Chancellor George Osborne has again spotlighted the contentious plan to reduce employees’ rights by proclaiming that the employees will be given shares in their companies in exchange for surrendering their legal rights at work.

The plan is that the companies will be able to present to their employees from April 2013 between £2,000 and £50,000 in ‘tax-free’ shares if the employees annul their rights to claim unjust sacking, to redundancy remuneration, to urge flexible working, etc. Female employees, who are utilising maternity leave, would have to provide 16 weeks’ notice of rejoining the workplace instead of 8 weeks’ notice, which is the existing requirement.

If the workers expressed readiness to jettison their workplace rights, they would not have to pay any ‘capital gains’ tax on any increase in the value of shares when they sold them.

Osborne’s proposal, which has enraged the Lib Dems and the other socialistic Britons, will not be applicable to the incumbent recruits working for companies. But the proposal could be compulsory for the new staffers. George Osborne intends to ratify this proposal soon in Parliament. Workers, who embrace the surrender of their workplace rights, wouldn’t be able to reverse their decision in the future unless their employers ‘consented.

Osborne has advertised his radical recommendation as a recommendation that will enable numerous workers to become ‘employee proprietors’, especially in rapidly growing small and medium businesses, which aspire to hire an energetic and flexible workforce.

Understandably, Brendan Barber, the General-Secretary of the Trades Union Congress (TUC), has assailed the Conservative Chancellor’s proposal. Barber has castigated the proposal’s watering down of maternity provision. Barber has also reproached Osborne for cancelling the safeguard against unjust sacking.

Paul Kenny, of the GMB union, has bludgeoned Osborne’s proposal, voicing that Osborne’s proposal is a further strike on the poor Britons and on employees’ rights. As per Kenny, killing people’s employment rights under the pretense of ‘proprietorship schemes’ won’t generate jobs and heighten growth.

However, Adrian Beecroft, the venture capitalist and Conservative Party financier, supported Osborne’s move, assessing it as innovative, which will enliven Britain’s entrepreneurial spirit.

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