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EFES NEWSLETTER - JULI 2017
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Austrian legislation for employee ownership was simple
until now. Any benefit that an employee received from
an employee share plan (as share price rebate, as
free shares, matching shares, etc.) was free of tax
up to 1.460 Euro annually. This
amount was doubled last year, to 3.000 Euro annually.
This
is probably the best example of the "basic block",
in a "building block" approach of legislation for
employee ownership.
This
simple piece of legislation enabled Voestalpine (50.000
employees, the Austrian steel industry, 15% employee-owned)
to make employee ownership a key factor in its success.
A
strong contrast with many other steel industries in
Europe as Arcelor, Florange, Cockerill and others
!
Now
the Austrian Government (big coalition with Christian
Democrats and Social Democrats) has just decided to
increase the free annual amount to 4.500 Euro annually.
This
will be conditioned to a new scheme: In place of individual
direct employee ownership, it will be collectively
managed through an Employee Ownership Foundation (Mitarbei-terbeteiligungsstiftung),
as it is for Voestalpine.
Many
Austrian companies, even the largest, have indicated
that they are ready.
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Press
review
We have a selection of 27 remarkable articles in 9 countries
in June 2017: Austria, Belgium, Canada, France, Germany,
Ireland, Italy, Spain, USA.
Austria: New employee ownership legislation, through
an Employee Ownership Foundation (Mitarbeiterbeteiligungsstiftung).
Belgium: Renewed political interest in employee ownership.
Canada: Canada celebrates first Employee Ownership
Day.
France: France must return to a coherent policy of
promoting employee ownership. Michel Bon calls France to
wake up. Saint-Gobain celebrates its 30th annual employee
share plan. New employee share plan for Sanofi. Green light
for Vinci in Morocco. All Orange employees will receive
free shares.
Germany: Manifesto for employee ownership in the
election campaign. ProSiebenSat.1 and Axel Springer belong
to the few large German companies which promote employee
share ownership.
Ireland: Currently Ireland is at significant competitive
disadvantage due to our poor employee ownership record and
employee share incentive schemes. Sweden to abolish income
tax on stock options for smaller start-ups.
Italy: Most employees are shareholders of Decathlon.
Spain: New employee share plan for Repsol.
USA: Employee ownership can broaden wealth for all.
The new study "Employee Ownership and Economic
Well-being". With income inequality at
record high levels, employee ownership is increasingly being
lauded as a potential solution to spreading wealth more
broadly. New firms turning to ESOPs.
Den
vollständigen Presseüberblick erhalten Sie unter:
http://www.efesonline.org/PRESS
REVIEW/2017/June.htm
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political roadmap for employee ownership in Europe
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