Firstly, these types of contract already exist in the real world, albeit they are more akin to people who are engaged on a “contract for services” basis, and have no employment rights anyway.

But the main point is I think employers will avoid this like the plague. As one big employer put it, this just makes it look like business wants to do bad things. Good employers like John Lewis give their employers a share in the business and the employees retain their employment rights. Result? John Lewis are particularly successful, and I would also like to see the amount of Employment Tribunal claims brought agauinst John Lewis. I’d hazard an educated bet it’s very low – because everyone is happy and there is no need for any employee to exercise the minimum floor of employment rights.

And it’s got more holes than your aunts crotched curtains. For instnace, what if the employer goes bust? What happens to your shares? There’s no money, the employer can’t pay (in fact they have probably ceased to exist) – where does the money come from? You can’t claim to the state – you have no employment rights. It’s a half-baked, half thought out idea which by the sounds of it employers and employees alike will ignore anyway.

A severe waste of time and public resources.