“Humiliating defeat” in Lords for shares for rights proposal

date: 20 March 2013

embargo: For immediate release

Responding to the House of Lords' vote to delete the Chancellor's flagship shares for rights proposal by 232 votes to 178 today (Wednesday), TUC General Secretary Frances O'Grady said:

'This proposal was the flagship policy in the Chancellor's speech to the Conservative Party Conference. Indeed in today's budget he announced further sweeteners.

'This humiliating defeat reflects the near universal thumbs-down it has received from business and unions. Some employers have said that employment rights should not be for sale, and many others have said that they simply see no use for the scheme as anything other than a tax dodge.

'The margin of defeat - a big victory for union campaigning - suggests that ministers should quietly abandon this policy.'

NOTES TO EDITORS:

- Further TUC reaction to the Budget is available at www.touchstoneblog.org.uk

- All TUC press releases can be found at www.tuc.org.uk

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Alex Rossiter T: 020 7467 1337 M: 07887 572130 E: arossiter@tuc.org.uk