Mish Shedlock Blog | Forced Distribution: Labour Proposes Workers to Get 10% of Shares | Talkmarkets
Investment Advisor Representative - Sitka Pacific Capital Management

Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market ... more

Forced Distribution: Labour Proposes Workers to Get 10% of Shares

Date: Sunday, September 29, 2019 12:19 AM EDT

Labour has a very anti-business platform in which companies would be requited to give 10% of the company to workers.

In a very radical plan, Labour proposes companies exceeding a headcount of 250 would be required to give shares to workers.

The Financial Times reports Row Erupts Over Labour’s 10% Shares Plan for UK Workers.

That headline is from last year, and unfortunately it's not all.

Labour's Big Plans

Commenting on the 2019 Labour Party Conference, Guardian reports on Labour's Plan for Industry.

  1. Rebecca Long-Bailey, the shadow business secretary, and John McDonnell, the shadow chancellor, want big companies to give employees a 10% stake in their business and a seat on their boards.
  2. They plan to renationalize rail, water, energy and Royal Mail, increase corporation tax and the minimum wage, and extend workers’ rights.
  3. Companies doing business with the government will have bosses’ pay capped and there will be a tax on financial transactions.

Of course, the Guardian, an extreme left-wing rag supports such policies.

Instead, look to Venezuela for what happens countries renationalize industries and seize private property for the "good of everybody".

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