EOA response to the Labour Party Policy Announcement on Inclusive Ownership Fund

Deb Oxley, CEO of the Employee Ownership Association, said:

“The EOA is delighted EO is being talked about in the mainstream and totally agree with Labour that power comes from ownership and that employees should share in success.

“A wider business ownership mix in the UK is essential to help spread wealth more equally and for employees to have more say. However this will be most effective if business owners are supported to grow employee ownership as a choice for business succession and growth, as has recently been legislated for in the US with cross party support and which is current policy in Scotland and Wales.

“We fear imposing employee share ownership and the additional money that big listed business will be forced to pay to the Treasury will close businesses minds to the benefits of employee ownership.

“We look forward to engaging with each of the major parties to agree a bipartisan approach to how best to ensure every business is able to explore the benefits of employee ownership for themselves, letting the evidence and results speak for themselves and helping the prosperity of individuals, businesses, regions and the economy.”

The benefits to more EO in the UK is laid out in the report the Ownership Dividend.