Nick Clegg’s call for a “John Lewis economy” is a shrewd move by the deputy prime minister.

Having employees who own part of the organisation they work for really makes a difference to productivity - this we know from our own experience. It’s more efficient, employees are more empowered and it is, quite simply, better for businesses.

From a business perspective, it makes long-term decisions easier. Changes can be implemented swiftly without the worry of an immediate impact on share value.

This campaign is, of course, likely to win some support for Nick Clegg among voters, but it is also a very sensible proposal and one we hope companies will take seriously.

Chris Etherington, chief executive, Palmer & Harvey