Given that there is a current tax gap (between tax due and tax recieved by the exchequer) of £120 billion, we propose the introduction of country-by-country reporting and a general anti-avoidance principle, in order to ensure that everyone living or doing business in the UK pays all the tax they owe.
We recognise the benefit of employee ownership and co-opertaives. Unlike many countries, the UK has no legal structure for co-operatives. In order to support the formation of these businesses, we will introduce legislation which is designed with these types of organisation in mind.
We will extend the requirement on basic, affordable telephony to broadband to help ensure homes have sufficient access to the internet and to keep pace with the connected digital economy.
@philipjohn - over 9 years ago
My understanding is that co-operatives mostly use the limited by guarantee form of limited company. Is this not suitable?
@digitalWestie how do you mean "we will introduce legislation which is designed with these types of organisation in mind."? Would that be better phrased as "we will create a new corporate structure explicitly designed for these organisations"?
A couple of questions, if that's the case:
1) As Phil says, what do the current structures not allow that co-operatives need? Limited-by-guarantee, CICs, etc. 2) Where in the world does have a proper legal status for co-operatives, and how does it benefit them?
To be clear, I like the idea, we just need to flesh it out a little. ✋ for now.
@digitalWestie are you up for expanding this a little? If not, it will be closed having passed the 90-day deadline, and is now languishing...
To reiterate, I like the idea, but I'm not sure what the legislation that's being proposed actually is, or is intending to fix.
@digitalWestie - about 9 years ago
Hey, if you're wondering what happened to this I decided it's probably better split out into multiple proposals. Will add when I get the chance.
The OpenPolitics Manifesto
@digitalWestie - over 9 years ago
Some relevant links: - http://employeeownership.co.uk/ - http://en.wikipedia.org/wiki/Worker_cooperative - http://www.radicalroutes.org.uk/publicdownloads/setupaworkerscoop-lowres.pdf