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EFES NEWSLETTER - DECEMBER 2023

 Employee Ownership is finally coming to Canada!

Canadian colleagues were calling for three things:

 A dedicated Employee Ownership Trust in the income tax act that would provide ownership benefits to all employees at no cost to them.

 A regulatory structure that ensured benefits would go to workers.

 And tax incentives to encourage owners to sell their businesses to their employees, as they do in the US and the UK.

In its Fall Economic Statement, the Federal government delivered meaningful tax incentives, and their policy now includes all three.

Canada's employee ownership policy is thus coming together very well, and significant uptake should be seen as soon as 2024.

Simply a revolution in employee ownership for SMEs in Canada.

More info   

 

 Echternach procession in Germany

Until now, Germany has never succeeded to fully embrace employee share ownership. Even the words are still lacking to describe it.

In 2021, tax incentives were multiplied by four, to 1,440 instead of 360. With what result? Zero.

Two years later, new political debate. This time we were going to see what we were going to see. 5,000 decided the Federal Government, promised sworn.

Finally, the German Parliament decided, it will only be 2,000.

Three steps forward, two steps back, like in the Echternach procession. Germany is progressing, but we are still far from a real employee share ownership policy.

More info    

 

Press review
We have a selection of 28 remarkable articles in 9 countries in November 2023: Belgium, Canada, Germany, France, Hungary, Italy, Slovenia, UK, USA.
Belgium: Technord is a pioneering company for employee ownership in Belgium.
Canada: Employee ownership is coming to Canada.
Germany: Echternach procession for employee ownership in Germany.
France: Successful employee share plans for Renault, for Softfluent, for Axa, for Capgemini.
Hungary: Tax exemption for employee share plans in startups from January 1, 2024.
Italy: New global employee share plan for Ferrari.
Slovenia: Towards new laws for employee share ownership and for employee ownership in Slovenia.
UK: Thanks to the Employee Ownership Trust scheme, every day a new SME is transferred to employees. This month, among others, the case of: Raynor Foods, Pratap Recruitment, East on Media Solutions, Miller Research, True Fostering, Goodman Nash, Generation Media, 2LK Marketing, Acme Architects, ABC Glass Processing, Swift Research.
USA: Five things employee owners need to know about their ESOP.

The full press review is available on:
              https://www.efesonline.org/PRESS REVIEW/2023/November.htm 

 


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   With best regards

 

 
 

Marc Mathieu
Secretary General
EFES - EUROPEAN FEDERATION OF EMPLOYEE SHARE OWNERSHIP
FEAS - FEDERATION EUROPEENNE DE L'ACTIONNARIAT SALARIE
Avenue Voltaire 135, B-1030 Brussels
Tel: +32 (0)2 242 64 30 - Fax: +32 (0)2 791 96 00
E-mail: efes@efesonline.org
Web site: www.efesonline.org
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 share ownership and participation in Europe.