More than three-quarters of people believe companies should be forced to share profits with staff

Equality: Gareth Thomas has called for a scheme which would increase workers’ wages.

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.

Source: More than three-quarters of people believe companies should be forced to share profits with staff – Mirror Online

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7 thoughts on “More than three-quarters of people believe companies should be forced to share profits with staff

  1. Stephen Mellor

    Let’s have two wolves and a sheep vote on what’s for dinner.

    It’s irrelevant what people want. Either they earn it, or they forget it.

    And if they try to destroy property rights, those affected will leave.

    1. Mike Sivier Post author

      The point is that they ARE earning it, but employers are telling them to forget it.
      You really are getting desperate if you’re talking in metaphorical terms about wolves and sheep.

  2. Simon M

    Wow! I think the 8% opposed must be business owners, so it would figure. Would be a great victory for the humble worked if this ever became policy.

  3. plhepworth

    One drawback regarding fairness generally is that some activities have far greater profit margins than others, as your figures indicate. And what about public sector workers? Fair universal wage structures and greater taxation of profits (which would also encourage investment) might be a better approach.

  4. Dez

    When directors, pay themselves mega salaries,bonus, pension benefits, when they are still employees of the shareholders like the rest of the company employees it feels better that the whole work force should have some better enducement with getting a cut of the profits…..and losses in hard times. Unfortunately in the hard times the directors don’t down size much or reduce their benefits it’s the work force that has to take the hit.

Comments are closed.