In this report, CentreForum shows how greater employee ownership and share ownership boosts business performance, reduces inequality within firms, and increases innovation, long term thinking and employee well being. CentreForum believes this should be the at heart of the coalition government's growth strategy.
The report comes amid growing political interest in measures to tackle 'crony capitalism'. David Cameron, Nick Clegg and Ed Miliband have all said they want to encourage 'responsible capitalism' and curb 'fat cat' pay.
In his 'John Lewis economy' speech to CentreForum, Nick Clegg went a step further by promoting employee ownership. The deputy prime minister said that giving individuals "a real stake in their firms" not only discourages short termism and unfair bonuses but is also "a hugely underused tool in unlocking growth".
CentreForum's proposals set out in the report include giving a single minister responsibility for promoting employee ownership and share ownership, and giving employees of firms that employ over 250 people a 'right to request' shares.
Download the report.
Click here to read the response of the Employee Ownership Association.
See also: 'Employee empowerment: towards greater workplace democracy' (January 2012)