Bullock Report financial definition of Bullock Report
Also found in: Wikipedia
Bullock Report the report of the Committee of Inquiry on Industrial Democracy, chaired by Sir Alan Bullock and published in 1977. The Committee was created in response to growing interest in the UK in the 1970s in INDUSTRIAL DEMOCRACY, among both TRADE UNIONS and the population at large. The report recommended that company BOARDS OF DIRECTORS be restructured to include equal numbers of representatives of the workforce and of shareholder representatives, plus a third group of independent members (known as the 2x + y formula). The Report was never implemented, though an experiment in board representation took place in the Post Office.