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The Disraeli Room is a hub for new ideas, commentary and analysis. ResPublica's blog is named after the great reforming Prime Minister of the nineteenth century, Benjamin Disraeli, and welcomes contributions from across the political, academic and professional spectrum.
I’m standing on the beach at Hvide Sande, in the northern reaches of Denmark, on a cold October morning. Strong gusts of wind pick up sand and throw it straight at my face.
Insurance, at its heart, is a mutual concept: a group of people coming together to solve a shared problem – an uncertain risk of a large loss occurring in specified circumstances – which is solved by exchanging the potential of a large loss for a (comparatively) small premium.
It was racial discrimination in 1960s London which led to the setting up of the first credit union in Britain fifty years ago. Credit unions have existed in the Caribbean since the 1940s, and immigrants to Britain from Jamaica and Trinidad decided upon their arrival in the UK to set up a self-help organisation so they could get the financial services they needed.
The General Election in 2010 saw a major landmark in the development of the Co-operative Movement. For the first time ever, the three largest political parties all made glowing reference to the role of co-operatives in British society and how they would support them if elected.
Mutual and employee-owned organisations (MEOs) are public and private enterprises, which have the potential to provide social, as well as economic, benefits. As a philosophy, mutualism is a set of ideas and principles governing the relations between individuals; as an organisational practice, mutuality is characterised by distinctive ownership and governance structures which express the values of equality, fairness and mutual respect through democratic decision-making.
As this collection of essays is published, The Co-operative Group is celebrating its 150th anniversary. Inevitably, it’s a moment to look back and reflect on where we have come from and what we have achieved.
Employee ownership has to overcome fundamental obstacles in order to become part of the mainstream UK economy. In 2012, Westminster and Whitehall acknowledged these obstacles and committed to working with the employee ownership sector and others to help dismantle them.
Employee ownership is now the most prominent and popular alternative to conventional forms of business ownership in the UK. Interest in it within business communities is increasing daily. It is currently growing at an annual rate of around 10%.
Small and medium enterprises (SMEs) could be the salutary lifeboat that the British economy needs for its lengthy recovery, but the current Government hasn’t yet been able to produce an aggregate policy offer to support them.
Interest in employee ownership is, in my experience, most often motivated by a desire for a fairer and more responsible form of capitalism and a drive to encourage personal responsibility among employees.
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