Local MP Celebrates Success Of Employee Ownership

Local MP, Justin Tomlinson, has celebrated National Employee Ownership Day with businesses in Swindon.

Justin was invited to be the keynote speaker at the event held in the National Self-Build and Renovation Centre which itself has just become an employee owned business. The event in Swindon was held to highlight the benefits of being an employee owned business. 

The event was also held to provide businesses with the information required about how to become an employee owned business. Currently 4% of UK GDP is generated by employee owned businesses. The Employee Ownership Association want this to become closer to 10% by 2020.

The Chancellor, George Osborne, has set aside £75m in tax relief to help employee owned businesses. This will ensure increased productivity, higher employee satisfaction, greater levels of innovation and greater economic stability.

During the event, Justin spoke about his personal business experience and how he wished he knew about employee ownership before he sold his business following his election as an MP in 2010. 

Justin Tomlinson MP said: "There are so many positives to the employee-ownership model and I was delighted to meet with so many people who are directly benefitting. As a former business owner myself, I know that the Chancellor's commitment to models such as this will see employees and the economy benefit".