David Ogilvy, partner and head of employment and dispute resolution at Turcan Connell, a leading adviser to individuals, businesses, families and charities, explains why individuals prosper through private ownership.
Private individuals prosper through private ownership.
This has been proven to be true in relation to housing stock where many thousands were given the opportunity to enjoy the benefits of private ownership. Society as a whole benefited from the pride which this new generation of home owners invested in their new homes. Subsequent generations of those pioneering tenants who became owners continue to benefit from that ownership interest. The principle that individuals prosper through private ownership is true of share ownership. Having a stake in something ought to be the greatest motive for wanting to look after it. Private share ownership works. We saw this with the denationalisation programs of the 1980s which gave many people their first ever opportunity to own shares and we saw this more recently with the return to private ownership of a long nationalised monopoly service. The interest in that privatisation from employees proves how popular employee share ownership can be.