Labour’s marquee business proposal from its party conference this week, which boils down to forcing publicly listed business to hand over 10 per cent of shares to workers, is likely to trigger a rash of court challenges if implemented.

“Large multinationals are complex by their very nature, as are all aspects of running such a business,” said Miles Dean.

Miles is a harsh critic of Labour’s plan. “It would be interesting to see what empirical proof John McDonnell has to support that this ridiculous idea will result in better-run, more profitable businesses,” he commented. “There are various share-ownership plans and incentives already available to companies in the UK. To force them to dilute other shareholders and give workers a 30 per cent representation on the board of companies is simply astonishing.

“The forced share transfers only apply to companies listed in the UK,” he said. “This might lead to businesses delisting and/or listing elsewhere. It might also force companies to employ less than 250 people or outsource to avoid the forced transfer. Companies that might have thought about listing may well think again.”

Read Miles’ comments in The Times