§ 10. Mr. Ian TaylorTo ask the Secretary of State for Employment what plans he has to encourage employers to increase employee participation through schemes such as employee share ownership plans.
§ Mr. CopeWe encourage employers to develop their employee involvement arrangements by whatever means are best suited to their particular needs and circumstances.
§ Mr. TaylorDoes my hon. Friend agree that the validity of the slogan "Owners try harder" is shown by the success of employee share ownership arrangements in the 277 United States, which now cover 10 million workers? Does he accept that they have broken down the "us versus them" attitudes in the States and have spread capital? Will he do some research to see how those schemes and those benefits could be applied in this country? By the way, does he have any recent information as to the Treasury view on this matter?
§ Mr. CopeI do not think that I should make any comment on Treasury views at this time of the year. I am well aware of the American experience in the field of employee share option schemes, not least as a result of reading my hon. Friend's articles on the subject. As he knows, my right hon. Friend the Secretary of State for Trade and Industry is also looking at this matter in connection with the Companies Bill.
§ Mr. DykesIs it not important to try to get the Treasury view? There is still time before the Budget statement this afternoon. One of the important things to do in the future is to get Treasury approval for an increased maximum number of shares held under employee share option schemes.