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UNI Global Union General Secretary, Philip Jennings wrote the following in the Financial Times today.



In response to the UK Chancellor of the Exchequer, George Osborne’s call for employees to give up fundamental rights in return for tax-free shares in the company.



Sir, "George Osborne, the UK Chancellor has set a honey trap asking employees to gamble away labour rights won over a hundred years for a lump sum payment. His plan to give employees "ownership" of the company is the kind of get rich quick scheme which led to the current financial crisis. Employees should beware. If they fall into the Chancellor's trap, out of understandable personal need, they will be selling off labour rights for generations to come.

Mr Osborne should not be allowed to go ahead with this bribe. Will those backing the plan, including high flying CEOs, be prepared to sign away their golden parachutes for £2000 as well?”



Philip Jennings, General Secretary, UNI Global Union, Nyon, Switzerland



Read letter on FT site here