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EFES' Manifesto 2014:     Fiscal incentives are indispensable prequisites    

Worldwide practical evidence and a wide range of academic research support the view that a proper legal environment and the provision of suitable fiscal incentives are indispensable prerequisites for any policy truly aiming the development of employee share ownership.
Moreover, such evidence and research also show that fiscal incentives always pay off medium/long term and in many ways.
Organizations promoting employee owner-ship around the world have demanded persistently and consistently supportive legislations including fiscal incentives for the common good (evidenced in additional growth and profitability, the spread of wealth, contribution to economic and social stability).
New fiscal incentives pave the way to new encouraging development, while political decisions reducing or cutting such incentives always lead to regression.
The EFES' Manifesto 2014 is soon to be published.

Press review
We have a selection of 40 remarkable articles in 11 countries in August 2014 (and some in June and July): Australia, Austria, Botswana, Canada, China, France, Germany, Morocco, UK, USA, South Africa.
Austria: Voestalpine is one of the best examples regarding employee share ownership in Europe.
Australia: Report shows employee share schemes could boost economy.
Botswana: Parliament passed bill making the BTC employee share scheme exclusive to Botswana citizens only. The minister said allowing foreign employees of BTC to procure shares is contrary to the government’s intention.
Canada: A company owned by its employees since the mid - 1990s has been sold to a major national corporation.
China: New guidance for employee share plans.
France: New employee share plans for Alcatel Lucent, for Artelia, for Axa, for Vinci. Employee buyout through a workers' cooperative for Setco.
Germany: Employee share ownership makes companies stronger.
Morocco: Employee share plans are more developed in large listed companies, thanks to strong fiscal incentives.
South Africa: The new Broad-Based Black Economic Empowerment (BBBEE) provides incentives for companies to employ more blacks, promote them to management positions and give them shares in the firms they work for.
UK: Why the employee ownership model is good for the economy. The employee ownership model can be a driver for engagement and productivity. Everyone dealing with private companies should be familiar with employee-ownership trusts, especially as a business succession solution. The 2014 Finance Act contains two new tax incentives intended to encourage more companies to introduce employee ownership. John Lewis staff set for bonus boost after a change in tax rules.
USA: Wage economy versus employee ownership economy. Proposed bipartisan legislation in Congress promotes retirement savings through ESOPs.

The full press review is available on:

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   With best regards



Marc Mathieu
Secretary General
Avenue Voltaire 135, B-1030 Brussels
Tel: +32 (0)2 242 64 30 - Fax: +32 (0)2 808 30 33
Web site:
EFES' objective is to act as the umbrella organization of employee owners, companies and all persons, trade unions, experts, researchers, institutions looking to promote employee ownership and participation in Europe.

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