Thursday, 21 March 2013

UK: Lords defeat for Government over new employee shareholder status

The Growth and Infrastructure Bill completed the report stage in the House of Lords yesterday. Clause 27 of the Bill was debated: this provides for the introduction of a new type of employment status - 'employee shareholder ' - through which employees receive shares in exchange for surrendering certain employment rights. This proposal has proved controversial. An amendment to remove clause 27 from the Bill was tabled by Lord Pannick, Lord Adonis, Baroness Brinton and the Lord Bishop of Bristol. It was passed following a division of the House (232 content and 178 not content). Hansard, the record of debate, is available here. Third reading of the Bill is scheduled for 26 March after which the House of Lords amendments will be considered by the House of Commons (about which see here).

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