Radical employment law proposals

George Osborne has met with mild applause following his speech at the Conservative conference where he described radical changes to employment law asking for “workers of the world unite”.

The controversial idea requires for employees to, in essence, give up their employment rights in exchange for tax-free shares within their company, which would aim to see an enforced loyal workforce, and help businesses grow while putting an end to many lengthy and costly unfair dismissal claims.

This new and intriguing “employee-owner” voluntary scheme, to be rolled out April 2013 was explained further by Osborne.
“Today we set out proposals for a radical change to employment law. It’s a voluntary three way deal. You the company: give your employees shares in the business. You the employee: replace your old rights of unfair dismissal and redundancy with new rights of ownership.
“And what will the Government do? We’ll charge no capital gains tax at all on the profit you make on your shares. Zero percent capital gains tax for these new employee-owners.
“Get shares and become owners of the company you work for. Owners, workers, and the taxman, all in it together. Workers of the world unite.”

With the pressure still on the Chancellor to reduce the deficit and find ways to get young people in to work, he has tried to ease both concerns with a two-pronged attack.

Already planned is a further £10 billion welfare cut by 2016 with the vast amount of these cuts will see the younger generation  bearing the brunt with an emphasis on those who look to the state for housing having never worked a day.

Another top agenda welfare cut plan is to see those families who keep producing children when they can not afford to support them and then expect Government handouts.