Report on profit-sharing and labour co-partnership in the United Kingdom

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Monograph

Identifikator:: 1016336950

URN:: urn:nbn:de:zbw-retromon-27123

Document type:: Monograph

Title:: Report on profit-sharing and labour co-partnership in the United Kingdom

Place of publication:: London

Publisher:: His Majesty's Stationery Office

Year of publication:: 1912

Scope:: 1 Online-Ressource (160 Seiten)

Digitisation:: 2018

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: II. Profit sharing and co-partnership in private firms and companies

Collection:: Economics Books

ANALYSIS OP SCHEMES NOW IN FORCE. 21 of their employers in the first place a fixed rate of interest, generally varying between 3 and 5 per cent.,( a ) and then a further return on these deposits varying with the rate of profits of the business. The rate of this extra return is in a few cases( b ) to be such as, together with the fixed interest, will bring the total rate of return up to the rate of dividend paid by the company, with a maximum limit of 10 per cent, in one case (No. 22); in two cases (Nos. 8 and 51) the rate of the extra return is to be one-half of the difference between the fixed minimum rate of interest and the rate of dividend paid by the com pany, with a maximum limit of 7 per cent, for No. 51 and of 10 per cent for No. 8; in another case (No. 102) it is to be half the rate of profits in excess of 8 per cent., the interest in this case being paid half-yearly. Under scheme No. 79 deposits are received by a private employer who, in addition to a fixed mini mum rate of interest, gives “ a bonus which is fixed by the Auditor in proportion to the profits.” Where a limit is fixed to the amount of money which may be invested, this varies from .£15 to £400.(°) Notice is generally required before any sums may be withdrawn by investors, varying from two days to two months.( d ) In addition to the foregoing instances, there should be mentioned under this heading the special cases of two gas companies (Nos. 84 and 109) who receive fixed weekly contribu tions from employees and who, in addition to a fixed rate of interest (4 and 5 per cent, respectively), give a bonus on the contributions. varying with the price of gas, the whole of the amount credited to employees being invested in shares in the undertaking. Proportion op Bonus reserved as Provident Fund. In three cases( e ) the whole of the bonus due to the employees is credited to a provident fund. Where such a fund exists it is more usual, however, for only part of the bonus to be devoted to this purpose, the other part being either paid to employees m cash or credited to their account for the purchase of shares in the undertaking by which they are employed. The proportion (“) The rate is 3 per cent, for No. 22, 4 per cent, for Nos. 8, 51, 85, 102, U P er cent, for No. 2 and 5 per cent, for No. 97 ; in the case of No. 10 there is no guaranteed minimum rate of interest. C) to (no fixed interest, return on investments being the same as rate of dividend, if any, upon capital), 22, 85, 97. In the case of No. 2 the return varies with the profits between certain limits according to a fixed scale (see pp. 39 and 40). 0) The limit is £15 for No. 10, £50 (£100 for bailiff) for No. 97, £100 for No. 51, £400 for employees paid quarterly and £200 for other employees in the case of No. 8. No limit is fixed by Nos. 2, 22, 85. (’() In the case of No. 51 any sum up to £2 may be withdrawn in one week on notice of two days being given ; otherwise one month’s notice is required. With No. 102 amounts up to £1 may be withdrawn on seven days’ notice fourteen days’ notice being required for higher amounts. Seven to fourteen days’ notice is required by No. 8 (see pp. 41 and 42), and seven days to two months by No. 2 (see pp. 39 and 40). One week’s notice is required by Nos 85, 97 and one month’s notice by No. 22. In the case of No. 10 no notice is required for the withdrawal of small sums, while otherwise a week’s notice is required. (') Nos. 9, 27, 37.

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