John McDonnell Proposes Worker Shareholders

IS LABOUR NOW PROPOSING TO STEAL THE ASSETS OF BRITISH COMPANIES

In today's Guardian (September 9th 2018) Shadow Chancellor is proposing a major redistribution of wealth from company shareholders to workers.  As with all Labour Party proposals there is much rhetoric but little detail.

So what do we know? Just one fact, from the article, that this proposal will affect companies with more than 250 workers.  To help the self confessed Marxist, Mr McDonnell, I have some questions which would be great to receive answers on: -

1. Why 250 workers?
2. What percentage of shares will be existing shareholders have to give up?
3. Will these shareholders receive fair value and how will fair value be calculated and by whom?
4. Who will pay the legal and stamp duty costs for the transfer of these shares to workers?
5. How will the dividends be allocated to workers based on length of service, age or other arbitrary allocation?
6. If a company has to raise more capital will workers shareholding be diluted or will it be fixed percentage?
7. What happens if the company is sold, do the workers receive a payout? How will the payout be allocated?
8. What is the likely impact on current bonus payments?
9. What is the likely impact on entrepreneurship?
10. What is the likely impact on inward investment in British business? 

The big question for me is that what is the moral basis of this?  An individual or group of individuals invest their own money, intellect, hard work and sacrifice to create a business.  That business grows employees workers and creates wealth the nation through tax receipts and investment.  The State comes along and says regardless of this we are stealing apart of your work and handing over to others who have not made these sacrifices.

Labour seem fixated on the myth that all Employers oppress and exploit their Workers.  Those with these views are people who have never created or run a business and are engaging in a class war that will ultimately destroy wealth, drive out investment  and as with other socialist regimes and leave the poor even poorer.