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.
- 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.
- They plan to renationalize rail, water, energy and Royal Mail, increase corporation tax and the minimum wage, and extend workers’ rights.
- 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 when countries renationalize industries and seize private property for the "good of everybody".
Mike "Mish" Shedlock