Rights for shares scheme announced

AOL Money Staff
George Osborne
George Osborne

Rui Vieira/PA Wire

Workers are to be given the opportunity to give up employment rights in return for shares in their company, Chancellor George Osborne announced.

The new "employee-owners" will receive between £2,000 and £50,000 of shares that will be exempt from capital gains tax when sold, and in return will give up rights on unfair dismissal, redundancy and the right to request flexible working and time off for training.