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EFES NEWSLETTER - APRIL 2023

JUST RELEASED

The new "Annual Economic Survey of Employee Share Ownership in European Countries" is just released
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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   

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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   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.