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Impose measures to counteract share speculation

“To counteract speculation,(besides a tax on share sales) it should be illegal to sell a share until 24 hours after it’s been bought.”

2. How does it fit with Compass’ core beliefs of equality, solidarity, democracy, freedom, sustainability and well being?

The value of companies is now dictated by speculation: this effects people’s jobs. It also means shareholders (and managers) no longer have a long-term interest in the company’s productivity and success, but only in it’s immediate selling price. This undermines the nation’s productivity. (Solidarity)

3. How does it build the institutions of social democracy, like social groups and collective and cooperative forms of ownership and control?

It would restore the company’s sense of purpose, and re-unite shareholders with that purpose.

4. How much will it cost or raise and where will any cost come from?

It would be administered electronically, and so cost a minimum, and the accompaning Share Sales Tax would actually raise revenue.

5. Which groups in the electorate are likely to support or oppose this measure? Is there any polling evidence you have on this?

People working in companies would experience greater stability, and feel shareholders were as committed to the enterprise as they were. Customers/consumers would also benefit from the focus on the prime aim of the company being to provide a service or products.

6. Is there a place or country where it’s worked? Please provide some information.

I don’t know. I think the Shares Sales Tax has been tried.

7. What are the three main arguments in favour/against it?

If, after say six months, the 24 hour period became 7 days, and later 30 days, shareholders would be investing long term, rather than gambling.
Companies would feel they could look to the long term. Managers would not need to constantly look over their shoulders to see what spectulation was doing to the “value” of their work.
It would cost very little to administer, and an accompaning tax would raise revenue.

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