The Employee Ownership Association (EOA) says Gordon Brown would reap the benefits in the long term, because employee-owned concerns are more productive.

The EOA, which counts the likes of the John Lewis Partnership among its members, calls these businesses 'CoCo' enterprises - where staff co-own their employers.

The EOA's paper argues that businesses where employees have an ownership stake and play an active part in decision-making are more productive because their staff feel happier.

Barry Cooke, who runs co-owned architect business Make, says in the paper:

“People who feel good about themselves and their job create a better product - it is as simple as that.�