EOA Response to Nuttall Review
EOA Response to Nuttall Call for Evidence - EO at the heart of UK Industrial Policy
Employee ownership provides a brilliant opportunity for the UK economy and should be at the centre of UK industrial policy – capturing and growing employee owned businesses success in productivity, sustainability and innovation to maintain our competitiveness internationally. There is much to be positive about but also so much more that needs to be done to promote and to improve the climate for employee owners across the country and in sectors as diverse as manufacturing, health and social care, construction, design, engineering, and high tech industries.
Below is our response to the Independent Review of employee ownership, commissioned by the Deputy Prime Minister in February and conducted by FFW’s Graeme Nuttall.
This overall response is in addition to the many individual responses that EOA Members also submitted.
We welcome the fact that the Government will be issuing its response to the Nuttall Report in the next few weeks within the tight deadline that it set itself. This is encouraging as it keeps up the momentum of recent progress on the employee ownership agenda. We are also enthused by the early statements from the new Minister of State with responsibility for this domain Jo Swinson.
In summary we are advocating and looking forward to the pending Government response doing four things:
Confirming that Employee Ownership has a legitimate and important place in UK industrial policy because of its track record of increasing productivity, innovation and economic growth;
Committing resources to raising awareness of employee ownership in various parts of the economy;
Endorsing the concept outlined in the Nuttall Report of a new Institute for Employee Ownership; and
Setting up a bespoke advice and information hub, as recommended by Nuttall, of the highest quality to assist businesses in their transition into employee ownership.
You can read more about the Nuttall Review and it's launch here: http://bit.ly/Mid4Xp