Employment
House of Lords

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Photo of Lord Marland

Lord Marland (Conservative)

My honourable friend the Minister of State for Employment Relations and Consumer Affairs (Jo Swinson) has today made the following Statement.

My right honourable friend the Chancellor announced on 8 October the creation of a new employment status of employee owner.

Today I am launching a consultation on how the Government will establish this new employment status. This coincides with introduction of the Growth and Infrastructure Bill.

Under the new employment status, employee owners will have a different set of employment rights and they will be given shares in the company of between £2,000 and £50,000. Any increase in value of these shares will not be subject to capital gains tax.

The consultation ends on 8 November, copies will be available on the BIS website and in the Libraries of the House.

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