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REACTION: "It's vital that we separate fact from fiction: the vast majority of people who receive Government support do so because they can't earn enough to support their families, or even find a job in the first place. Rather than taking support away from those who need it the most, the Government must instead focus on creating more jobs and making work pay for everyone.'' - Fiona Weir, chief executive of single parent charity Gingerbread

The Chancellor announced that workers are to be given the opportunity to give up employment rights in return for shares in their company. Here's how it works. The "employee-owners'' will receive between £2,000 and £50,000 of shares that will be exempt from capital gains tax when sold, and in return will give up rights on unfair dismissal, redundancy and the right to request flexible working and time off for training. Mr Osborne believes it would appeal to new businesses starting up and small and medium-sized firms who need flexible labour and highly motivated staff. The scheme is expected to be fast-tracked through Parliament this autumn for introduction in April 2013. More details can be found here.