TRENDING TOPICS: Celebrity Crime Economy NHS Transport Weather Football

George Osborne’s plan to reduce employee rights angers trade unions

Written on:October 9, 2023
Add One

George Osborne deems his proposal will make workers ‘owners’ of their companies

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.

Conservative Party Conference: George Osborne vows £10bn benefits reduction
Labour Conference: Ed Balls lambasts UK government’s economic plan
Ed Balls expresses readiness to ‘function’ with Vince Cable to build jobs in UK

3 Comments add one

  1. Chris says:

    It is a really radical plan that Osborne is offering….I wish that it works for the sake of an economically stronger UK…. but I feel that this proposal will only increase social tensions in the UK…Don’t want that!…

  2. Damon says:

    The proposal is unimaginably insensitive…It shows the lack of connection that Osborne has with the common UK public…

  3. PeridotPartners says:

    As experts in recruitment, it’s no surprise that this has been a hot topic of conversation in the Peridot Partners office this morning. We all agree that George Osborne must be completely out of touch with what work looks and feels like for most people in Britain today.

    Take away peoples’ rights and you increase levels of insecurity and, ultimately, dissatisfaction. If we are to get ourselves out of this double dip recession, shouldn’t we be creating empowered and valued employees to drive a healthy economy?

    Giving people a greater stake in the business they work for is no bad idea, but at the expense of forfeiting workers’ rights? No thanks!

Leave a Comment

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>