Labour propose confiscating 10% uk equities - pension planning response?

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  • However, going back to the 'good old 70s', which were a time of much greater poverty for a great many more working people than is the case nowadays, is not the answer.

    Mmmmmm how can i put this. That's a lie.
  • NewShadow
    NewShadow Posts: 6,858 Forumite
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    Given the company money grab from workers' pay packets by the destruction of company DB plans and the shifting of both risk and contributions to employees with the introduction of DC plans, I think it's about time the employee got something back.

    Most of the shares will not go to individual workers but to a centralised fund that will administer them “on behalf of “ the workers. Which essentially means the unions.

    I am not in favour of giving the unions a large amount of voting power on top of the power they already have as the workers representatives. There is a very important place for unions, but it is not in management.
    That sounds like a classic case of premature extrapolation.

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  • Silvertabby
    Silvertabby Posts: 9,011 Forumite
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    edited 24 September 2018 at 7:06PM
    Turpinr wrote: »
    I don't remember it being like that but yes it was a closed shop.
    I know we had a very good final salary pension scheme that at the time, we didn't apprecate.
    Which factory where you in and what did you make?

    I worked in the canteen (I'm female). Prior to my expulsion, I racked up two official warnings from the union rep - one for going to the loo in my lunchbreak (union says - you go the the loo in bosses time, not workers time) and the other for NOT taking 2 days a month paid sick leave (the fact that I hadn't been ill was not an excuse). The final straw came when I refused to strike in support of a guy who had been sacked for stealing enough Leyland Motors tools and equipment to start a small factory.

    I do remember getting a refund of my pension contributions - that £80 came in very handy for the suitcase and new clothes I wanted to take with me when I joined the WRAF.
  • Ganga
    Ganga Posts: 4,150 Forumite
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    I worked in the canteen (I'm female). Prior to my expulsion, I racked up two official warnings from the union rep - one for going to the loo in my lunchbreak (union says - you go the the loo in bosses time, not workers time) and the other for NOT taking 2 days a month paid sick leave (the fact that I hadn't been ill was not an excuse). The final straw came when I refused to strike in support of a guy who had been sacked for stealing enough Leyland Motors tools and equipment to start a small factory.

    I do remember getting a refund of my pension contributions - that £80 came in very handy for the suitcase and new clothes I wanted to take with me when I joined the WRAF.


    You could not make this up,no wonder GB is not the country it used to be:rotfl:
    ITS NOT EASY TO GET EVERYTHING WRONG ,I HAVE TO WORK HARD TO DO IT!
  • I worked in the canteen (I'm female). Prior to my expulsion,

    I was in the canteen once when i was an apprentice (subsidised meals) and found a cows eyelash in a steak pie, uggggghhhhh.
  • You could not make this up,no wonder GB is not the country it used to be

    No, you couldnt.
  • Sapphire
    Sapphire Posts: 4,269 Forumite
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    Turpinr wrote: »
    However, going back to the 'good old 70s', which were a time of much greater poverty for a great many more working people than is the case nowadays, is not the answer.

    Mmmmmm how can i put this. That's a lie.

    No, it's not a lie. It's an inconvenient truth for some, but I can attest that it was the case for both family and friends, no matter what jobs they held at that time. There were also far fewer home owners than there are now, and there was not the sort of drive to own a property (again, brainwashing by TV programmes and advertising by the property marketeers) and other 'stuff' as there is now. And people just didn't put in brand-new kitchens, or have 'en suite bathrooms' and the like, as they do now at the drop of a hat, regarding such things as necessities (often bought on credit, aka via loans).

    People made do often quite creatively with what they had, or what they inherited in the way of furniture and so on, and reused and repaired stuff far more than they do now. Neither were there the sort of benefits that there are now. Perhaps such times will come again.
  • Large employers (500+ employees) in Germany must have an employee representative on the board.

    German employment law is much more protective of employees too. For example it is much, much more difficult for a German employer to sack someone than it is for a UK employer.

    Yet the German manufacturing sector seems to have done much, much better than the UK's manufacturing sector over the past few decades.

    One does wonder whether giving employees a bit more of a stake in the companies they work for would actually turn out to be a good thing.

    There is surely a middle ground between union-dominated closed shops like the UK had in some industries in the seventies, versus the workplace culture most companies have at the moment.
  • Large employers (500+ employees) in Germany must have an employee representative on the board.

    Do German companies also have to have to hand over a tenth of themselves over to the government?
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  • Do German companies also have to have to hand over a tenth of themselves over to the government?

    No, but that is not what is being proposed.
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