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PLAID Cymru’s shadow economy minister has called for a new Institute of Employee Ownership to re-empower “disenfranchised” workers.
Rhun ap Iorwerth’s proposal, which he said would foster a “new worker participation model,” won unanimous support at the party’s conference on Saturday.
“We know what an unequal state the UK is and one way we can tackle the problem is by making business structures fairer — and more exciting,” he said.
The ex-BBC broadcaster said the institute would be based on the Basque Country’s massive Mondragon co-operative.
Delegates heard how its 80,000 workers all have a stake in the company and managers’ salaries are capped at six times more than that of the lowest-paid worker.
“The best way to run society is on the basis of one person, one vote — but in business it’s still one pound, one vote,” said consultant Madoc Badcup.
