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EFES NEWSLETTER - SEPTEMBER 2014
| EFES' Manifesto 2014:
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Fiscal incentives are indispensable prequisites
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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.
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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:
http://www.efesonline.org/PRESS
REVIEW/2014/August.htm
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A
political roadmap for employee ownership in Europe
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