Labour calls for workers to sit on company boards

first_img Tags: Jeremy Corbyn People Theresa May Share Under the policy, revealed as Labour launched its annual conference in Liverpool over the weekend, employee directors would be elected by the workforce and paid at a level equal to other board members.Corbyn said the change “help transform our broken economic model” and fight against “reckless corporate culture”.Under the new plans, companies with a workforce of 250 or more, regardless of whether they are public or private, would be required to reserve at least a third of positions in the boardroom for employee representatives.Read more: Labour leadership to ‘back members’ on second Brexit voteThe change would force companies to have a minimum of two employee representatives regardless of board size, and stipulate that representatives would have to be members of a trade union. Sunday 23 September 2018 4:16 pm whatsapp Corbyn accused Prime Minister Theresa May of having reneged on a promise to get workers onto the board of firms, made as part of her campaign for leadership of the Conservatives in 2016.May dropped an effort to introduce the change as part of a new corporate governance code, instead making it so firms can nominate a non-executive director to represent workers, or create an employee advisory council – with both options entirely voluntary.Read more: John McDonnell: Labour will nationalise railways within five yearsLabour said introducing worker-directors had popular support among voters, and pointed towards research which showed the UK has the lowest average business investment of any G7 nation as a share of GDP.A Survation poll in 2013 found that 76% of UK employees were in favour of workforce representatives sitting on company boards of directors.center_img Louis Ashworth Labour calls for workers to sit on company boards A Labour government would introduce laws requiring businesses to reserve a third of board seats for workforce representatives, party leader Jeremy Corbyn announced. Corbyn said company governance practices which prioritised shareholder interests were forming a corporate culture that focused on short-term gains at the expense of growth.Corbyn said: “Businesses have been allowed to get away with such exploitative practices because the balance of power has shifted against workers. That has allowed a reckless corporate culture to fester which is damaging Britain’s economy.“Labour will turn the tide and give workers more control and a real say at work. By ensuring businesses reserve a third of board seats for workers, we’ll help transform our broken economic model, as part of our plans to rebuild Britain for the many not the few.”The Institute of Directors, which represents company directors and business leaders, said Corbyn’s policy would prevent flexibility among businesses. Roger Barker, its head of corporate governance, said: “Employee directors are a valid option, but imposing them on all large businesses is a step too far.“Firms should be allowed flexibility in how they take account of a wider range of stakeholders perspectives, including those of employees. The new corporate governance code, which outlines various options for enabling employee input, is in this light a far more apt approach than today’s proposal.” whatsapplast_img read more

Gustavus reports preliminary election results

first_imgGovernment | Politics | SoutheastGustavus reports preliminary election resultsOctober 8, 2020 by Pablo Arauz Peña, KTOO Share:Four Corners, pictured here on June 29, 2017, is Gustavus’ most prominent intersection. (Photo by Jeremy Hsieh/KTOO)The Southeast Alaska community of Gustavus published its preliminary local election results on Wednesday.Voting happened in person for the most part. Karen Platt, the city clerk, said there were precautions because of the COVID-19 pandemic.“The only thing that was different from years past is that we were wearing masks and maintaining a little additional distance,” Platt said.Platt also said the city moved its polling place from the Gustavus Public Library to the Community Center.“We did that so that we could maintain social distancing, worked out really great,” she said. “It’s a very nice space.”While there were 328 total ballots total, Platt says there were 206 properly cast ballots and 22 absentee ballots.Tania Maria Lewis and John Gerald Buchheit were elected to three-year terms on the city council. Michael Taylor was elected for a one-year term.The preliminary election results are:City Council Seat C: 158 votes for Tania Marie Lewis (three-year term)City Council Seat D: 135 votes for John Gerald Buchheit (three-year term)City Council Seat G: 134 votes for Michael S. Taylor (one-year term)Platt says the results will be certified on Friday at 5:30 p.m.Correction: We previously listed Jim Wagner as the winning candidate for City Council seat D. He was not a candidate in that race and did not win a seat on the city council. Share this story:last_img read more