Let workers elect representatives to company boards!
The Tories promised in 2016 to change the law, but haven't delivered.
A Labour govt could make it happen.
We are members of @UKLabour who support co-determination - the right of workers to elect representatives to the board of directors in their company.
https://t.co/mF8SskNTYH
New report with @KhemRogaly
The UK is a clear outlier for worker participation rights.
Weak rights are linked with poor economic outcomes in key metrics.
Addressing the stagnation and inequality that defines the UK economy requires democratising power in the company.
Workers in the UK lack many of the guaranteed rights & institutions, from representation on company boards to strong collective bargaining, that are taken for granted across Europe.
Our outlier status is associated with poor economic performance across a range of key indicators.
🚨 NEW: The UK ranks third worst in Europe for employee participation rights 🚨
@DantonsHead and @KhemRogaly analysis finds that where economic democracy is strongest, economies perform best; where it is weak, they perform poorly.
https://t.co/gtFWdHjEbs
The root cause of the cost-living-crisis is inequality & uncontrolled corporate power.
Must democratize corporations, secure equitable distribution of income.
Need workers on company boards, Workers/Consumers to vote on executive pay, end exec bonuses.
https://t.co/BVpdRxy0Z6
Great to read that worker representation on company boards is apparently part of the Levelling Up agenda of shadow communities secretary @lisanandy: https://t.co/bD57dLJwa8
From workplaces to public services, from online platforms to statecraft, power is fundamentally shifting and changing.
Read our new report with @CompassOffice about how a new government must adapt to meet this moment 👇
https://t.co/du8HnLZOex
“Stakeholder governance provides a check on both directors’ and shareholders’ actions in a way that traditional company boards—no matter how full of “independent” directors—cannot match.” #codetermination
https://t.co/Hhv7rwfo7k
A failure to tame corporate power has been a disaster for society. 'The veil of incorporation enables corporations to indulge in practices which a natural person would not be able to get away with so lightly', writes @premnsikka
https://t.co/qdTM8Oy5OW
A welcome call for a Covenant that includes “the reform of corporate governance in companies with more than 50 employees, with at least two elected employees sitting on the board, and similar representation on remuneration committees”. 👏 @JonCruddas_1 @LabourTogether
"These are the building blocks for a more secure and prosperous society. Labour's Covenant puts reciprocity at the centre of political economy and social reform."
@JonCruddas_1 on @LabourTogether's paper setting out the political renewal of Labour: https://t.co/ZivMA135Dg
It is good to see strong support for greater democracy at work in the new @LabourTogether report, “Labour’s Covenant: A Plan for National Reconstruction”. https://t.co/ZLdiGnSkNg
Our corporate governance system encourages firms to prioritise shareholder returns rather than increase real wages & investment.
We need to:
📋🖋 Democratise governance
⚖️ Empower workers to reclaim their fair share
🔎 Ensure transparency
More below👇
https://t.co/hAZcFP6eJ7
BREAKING: Labour's Fair Pay Agreements would give working people a pay rise and boost our economy.
Labour would bring together representatives from workers and employers to agree minimum pay and conditions in their industry.
Good for working people. Good for business.
#Lab21
"We are in favour of common ownership absolutely... Starmer said this in the leadership campaign - we haven't changed that commitment."
- Shadow business secretary Ed Miliband on Labour supporting public ownership of energy, water and transport.
@Ed_Miliband | #Newsnight
Millions of workers are in insecure employment with low pay and few rights or protections.
@JohnHendyQC's Status of Workers Bill will create a single status of ‘worker’ for all but the genuinely self-employed, giving them the security they deserve with full rights from day one.
To tackle the endemic levels of in-work poverty in the UK, we need a new deal for working people.
Today, I’ll be outlining how @UKLabour’s replacement for Universal Credit will allow people on low incomes to keep more of the money they earn
https://t.co/V50VWxxDqI