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EFES NEWSLETTER - APRIL 2023
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JUST
RELEASED
The
new "Annual Economic Survey of Employee Share Ownership
in European Countries" is just released
More information
in
partnership with
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Employee
share ownership in Europe in 2022
•
Employee share ownership continues its slow erosion
in Europe. Democratic employee share ownership peaked
in 2011 in large European companies and has been steadily
declining ever since. This is the case in all European
countries (with the notable exception of Great Britain).
• Why this falling off? It is a sign that employee share
ownership plans are becoming less and less effective.
The national fiscal policies that support them have
reached their limits.
• Overall, employee share ownership policies, because
they remained national, have lost 30% of their effectiveness
in a few years. This explains why recent legislative
efforts in several countries (Pacte Law in France, fourfold
increase of tax incentives in Germany) have not had
any significant impact on employee share ownership in
large companies.
Press
release
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Press
review
We
have a selection of 30 remarkable articles in 6 countries
in March 2023: Belgium,
Canada, Denmark, France, Italy, UK.
Belgium:
The need for collective employee ownership. Employee ownership
is slowly but steadily eroding in Europe.
Canada: Missed opportunity. New policy plan for Employee
Ownership Trusts provides an option in business succession
planning, but not hoped-for tax incentives.
Denmark: Co-ownership for all employees of Lyras manufacturer.
France: Eres publishes its 2023 Panorama of employee
share ownership in France.
Italy: New record for EssilorLuxottica. In Italy, WBO
is the acronym for "workers buy out".
UK: Early case of the joint use of EOT and ESOP schemes
in the UK.
Thanks to the Employee Ownership Trust scheme, every day a
new SME is transferred to employees, - 90 new transmissions
from January 1 to March 31! This month, among others, the
case of: Blue Sky Financial Planning, Blackheath Products,
Cheetham Jackson, Granby Marketing, Wicker Pharmacy, Fabrik
landscape designers, Hockley Mint jewellery, Langcliffe M&A,
Lemon Groundwork Solutions, RR Engineering.
Postlethwaite Solicitors, a national practice specialising
in employee ownership, have now themselves become 100%
employee owned.
New crisis for John Lewis Partnership which is considering
abandoning the 100% employee ownership formula.
On the way to a new employee share ownership policy, – Equity
for All.
The full press review is available
on:
http://www.efesonline.org/PRESS
REVIEW/2023/March.htm
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A
political roadmap for employee ownership in Europe
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