Don't fall for the shares-for-rights scam
The Con-Dems' shares-for-rights scheme came into effect on 1 September. The TUC is warning that as well as taking away basic employment rights, the scheme could cost taxpayers £1 billion.
The government would like us to sign away rights to unfair dismissal, redundancy and flexible working, in exchange for shares.
Any workers tempted by such a scheme should take a look at the fate of the first ever Employee Share Ownership Plan to be set up in the UK, in Roadchef.
A union member at work tipped me off about this scandal, which otherwise I probably wouldn't have noticed as it's been hidden away in the financial pages.
It concerns Tim Ingram Hill, one of Britain's wealthiest men and somebody who has regularly featured on the rich list.
Employees of Roadchef, who had been promised ownership of the company by former owner, Patrick Gee, have been involved in a court case that has now dragged on for a few years.
When Gee died it was left to Ingram Hill to carry through the transfer of ownership to the company's staff.
Workers at Roadchef are claiming that Ingram Hill fraudulently transferred over shares that were held in trust for them, to himself, before selling the company for £139 million.
Workers who might have expected to pocket around £90,000 each, instead received around £2,300.
Company share schemes are far from the means of securing our futures that the government would have us believe.
With jobs, pay and terms and conditions all under constant attack as cuts rain down, it would be a huge mistake to give up any employment protection.
For as long as we have to work for the likes of Ingram Hill, our best day-to-day protection comes from building fighting trade unions to win and ensure permanent jobs, a living wage, decent pension packages, holiday entitlements and elected trade union representation.
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The coronavirus crisis has laid bare the class character of society in numerous ways. It is making clear to many that it is the working class that keeps society running, not the CEOs of major corporations.
The results of austerity have been graphically demonstrated as public services strain to cope with the crisis.
The government has now ripped up its 'austerity' mantra and turned to policies that not long ago were denounced as socialist. But after the corona crisis, it will try to make the working class pay for it, by trying to claw back what has been given.
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In The Socialist 4 September 2013:
Socialist Party news and analysis
Syria: Cameron defeated; Now defeat Tory cuts!
United strike action against the Con-Dems
Don't fall for the shares-for-rights scam
Them & Us
International socialist news and analysis
When the world economic crisis makes landfall in S Asia
1993: BNP racists forced off Brick Lane
Socialist Party reviews
Police spies and the workers' movement
TV review - MLK: The Assassination Tapes
Socialist Party workplace news
Blacklist defeat - Frank Morris reinstated on Crossrail
Hovis bakers on 7-day strike against massive pay cuts and casualisation
Carers at Future Directions continue their fight
Coventry Unison protest
Workplace news in brief
Socialist Party reports and campaigns
Council leader announces 'no bedroom tax evictions this year'
Build partnership in action against austerity
Miliband expected to promise repeal of bedroom tax
NHS: action to improve care
Lift the ban on campaign stalls in Newham, east London
Burston strike school celebrated
London protest against attack on Syria
Bristol TUSC - we're fighting the cuts
Help fund the anti-austerity fightback!
The Socialist 4 September 2013 |
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