Britain’s Labour Party pushes equity for workers
Jeremy Corbyn’s party wants to nationalise key industries, give staff seats on boards and pursue tax-dodging companies
Liverpool — Large companies would be forced to transfer as much as 10% of their shares to their workers under plans set out by Britain’s opposition Labour Party on Monday. Labour, which under socialist leader Jeremy Corbyn has shifted from a centrist pro-business platform to a more interventionist left-wing pitch, is using its annual conference to detail its plans to help a greater number of people to share in economic prosperity, which it says is "hoarded by the few". The party has announced plans to nationalise key industries, including water, energy and rail, and to give workers a third of seats on company boards. Labour said that every company with more than 250 employees would have to create an "inclusive ownership fund", transferring at least 1% of its shares into the fund every year, up to a maximum of 10%. "Employee ownership increases a company’s productivity and encourages long-term decision making," Labour finance spokesperson John McDonnell told the party’s annual confer...
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