EFES NEWSLETTER - ENERO 2018
in the hands of employees in France
objective of 10% to be held by employee shareholders
in France by 2030 was launched last month in Paris
by the French Federation of Employee Shareholders
Associations (FAS). This may be compared with 4 to
6% held now in large French companies (depending on
definitions), and to some 10% in the USA. President
Macron and the French Government will back this objective,
seeing employee share ownership as a key factor for
the revival of a population of individual investors.
After eight years of negative policies under Presidents
Sarkozy and François Hollande, this is a very good
signal for employee share ownership in Europe. France
is back !
We have a selection of 29 remarkable articles in 12 countries
in December 2017: Canada, France, Germany, Hungary, Ireland,
Italy, Luxemburg, Poland, South Africa, Spain, UK, USA.
Canada: Employee buyout for Daily Herald newspaper.
France: New employee share plans for Kaufman &
Broad, for Axa, for Total, for Suez. Management/Employee Buyout
for Fondasol. Successful employee buyouts through workers'
co-operatives. Instead of employee share ownership, the CFDT
Union advocates for France the German model of Mitbestimmung.
Germany: With the "Berlin Appeal for more Employee
Share Ownership", 60 prominent German companies and organisations
call for radical change in German policy.
Hungary: A first point on the impact of the new regulations
of 2015 in the Act on Employee Share Ownership Plans.
Ireland: EU backs tax break for new SME share-options
Italy: EFES Barometer of employee share ownership policies.
Luxemburg: So far, stock options and warrants have
been taxed at low levels and were open to misuse.
Poland: PwC reports on the introduction of employee
share ownership in Poland: "A chance for companies, a
chance for Poland".
South Africa: Staff of Barclays Bank of Kenya, Ghana,
Uganda and Zambia will soon be given an opportunity to acquire
shares in their parent company.
Spain: Spanish employees of Alcampo manage their shares
through a dedicated holding company in Luxemburg.
UK: "Employee-owned" Prospects Group acquired
by Shaw Trust. New companies turning to the Employee Ownership
Trust scheme. The number of companies having turned to Employee
Ownership Trusts has increased by 120 since April 2014, far
from a "boom". Positive progress for European employee
share ownership policies.
USA: Some companies actually pay $0 in federal
tax without relying on any accounting tricks. How? Because
they are S-corporations that are 100%-owned by their employees
through an ESOP (employee stock ownership plan).
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