Employee Ownership

House of Lords written statement – made on 30th October 2012.

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Photo of Lord Marland Lord Marland The Parliamentary Under-Secretary of State for Business, Innovation and Skills

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

Today I am publishing the Government's response to the Nuttall review on employee ownership. In parallel with this, I am also publishing a consultation on deregulating employee share buy backs, along with draft regulations.

Copies of these documents will be placed in the Libraries of the House.

The Government response sets out how we will address each of the 28 recommendations made in the Nuttall review. It focuses on three themes of raising awareness, increasing the resources available to support employee ownership and reducing its complexity. These three themes will make up the key elements of the Government's approach to promoting employee ownership in the private sector, complementing and drawing parallels with the activity around public sector mutualisation.