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EFES NEWSLETTER - FEBRUARY 2013
New
era for employee share plans in the UK
The British government has given the green light to
substantial simplification and reform of all four approved
share ownership schemes during the course of the next 15
months. This follows the exhaustive review of the approved
schemes by the Office of Tax Simplification, which concluded
that major changes had to be made quickly to head off strangulation
of the employee share ownership sector by overregulation
and excessive bureaucracy. More
Press
review
We made a selection of 30 remarkable articles in 7 countries
in January 2013: China, France, Germany, Italy, UK, USA,
Zimbabwe.
China:
Huawei is likely the world's biggest telecom equipment maker.
Its success today should be attributed to the "employee
ownership" model, because it integrates employees'
personal interests with the company's long-term prospects.
France: The Unions' Committee for Employee Savings
(Comité Intersyndical de l'Epargne Salariale) has
a new website. New employee share plan in 34 countries for
Schneider Electric. How the French Government is going to
support employee buyouts. Several large workers' co-operatives
in France.
Germany:
The employee shareholders association of Siemens represents
several thousands of employee shareholders.
Italy: Scandal in MPS Bank. Employee shareholders
are doubly cheated.
UK: Unipart is one of Britain's most celebrated large-scale
employee-owned businesses. Gripple is another one. Recommendations
made by the Office of Tax Simplification (OTS) in its review
of employee share plans would bring welcome simplification.
USA:
Several new ESOP companies. Research indicates ESOPs save
Federal Government billions due to fewer layoffs. When is
selling the company to its employees a sound strategy?
Zimbabwe: The employee share ownership trusts were
a stroke of genius.
The full press review is available
on:
http://www.efesonline.org/PRESS
REVIEW/2013/January.htm
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