Certain Vox Political readers/commenters will be dismayed to learn that they are out of step with national opinion here.
The Blog recently hosted a debate in its comment columns, where some readers suggested that employers should pay as little as possible, no matter how much hardship this causes the workforce.
There is, of course, no economic argument in favour of such a policy. In fact, a well-paid, well-motivated workforce will increase both productivity and profit, according to the National Institute for Economic and Social Research (NIESR).
Therefore This Blog supports the findings of the Co-operative Party.
More than three-quarters of people believe big firms should be forced to share their profits with their staff, new research reveals.
A poll commissioned by the Co-operative Party shows huge public backing for a French-style system where companies with more than 50 employees must share profits with their workers.
The policy was included in the 2015 election manifesto of the party, which has been affiliated with Labour for almost a century.
Of more than 2,000 people surveyed last week, 76 per cent said they backed the idea, with 46 per cent ‘strongly’ in favour. Just eight per cent were opposed.
Co-operative Party chair Gareth Thomas said that according to House of Commons Library calculations, workers at clothing store Sports Direct could earn £507 more each under the proposals, while staff at Sainsbury’s would make £397.
At BT the average employee could take home an extra £1,209.
Labour leader Jeremy Corbyn is now considering adopting the idea, which will be part of a review of employment rights being undertaken by Labour.
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