Deregulation of the market
The government promoted these proposals as part of its drive for growth and to give business more flexibility to hire and fire staff.
Some commentators were quick to dismiss them as political rhetoric to satisfy those keen on seeing further deregulation of the labour market.
But at the end of last year, the government concluded its consultation and published its response. The proposals have now been incorporated into the Growth and Infrastructure Bill, which is currently making its way through Parliament.
Despite initial scepticism, it appears that the scheme is likely to become law at some point this side of the next general election. As to what it comprises, employee-owners would have a reduced set of employment rights in return for receiving shares in their employer’s company.