A new Employee Shareholder scheme is to start this autumn, allowing staff to give up certain employment rights in exchange for shares in the business they work for, worth between £2,000 and £50,000.
The House of Lords has voted to accept a clause in the Growth and Infrastructure Bill that legislates for the new ‘Employee Shareholder’ status.
The Government made a number of concessions to the proposals after the House of Lords rejected the scheme twice. The House of Lords has now accepted the proposals, meaning that the Employee Shareholder scheme will become law. It is expected to be implemented in Autumn 2013.