Employment-related shares & securities bulletin – number 15
11 April 2014
The latest issue of the Employment Related Shares & Securities Bulletin has been published.
The Employment-Related Shares & Securities Bulletin provides information and updates on developments relating to employment-related securities, including the tax-advantaged employee share schemes.
The fifteenth edition contains articles on:
Finance Bill 2014 - outline of shares & securities changes Schedule 6 Finance Bill 2014 - guidance on commencement and transitional provisions
Enterprise Management Incentive notification Guidance on accessing online ERS service.
Employee Ownership
‘SHARES FOR RIGHTS’ REJECTED BY HOUSE OF LORDS
22 March 2013
The House of Lords this week voted down the Government’s shares for rights scheme, which would allow staff to give up key employment rights in return for shares in the company worth anything from £2,000 to £50,000. Reports Workplace Law
Chancellor, George Osborne suffered the setback as his much debated scheme was rejected by the House of Lords by 232 to 178 votes amid widespread criticism.
The scheme was intended to encourage employment, with businesses less wary about taking on staff since they would not be subject to expensive hiring costs and would be able to lay off people more easily. Workers would give up training, redundancy and flexible working rights. The former Cabinet Minister, Lord Forsyth of Drumlean, one of several senior Conservatives to criticise the plans, described the idea as “ill-thought through, confused and muddled”. He added: “I am astonished the Coalition would even think of bringing forward such a measure.”
Responding to the House of Lords' vote, TUC General Secretary, Frances O'Grady, said:
“This proposal was the flagship policy in the Chancellor's speech to the Conservative Party Conference. Indeed in today's budget he announced further sweeteners. “This humiliating defeat reflects the near universal thumbs-down it has received from business and unions. Some employers have said that employment rights should not be for sale, and many others have said that they simply see no use for the scheme as anything other than a tax dodge.”
CIPP Policy News Journal
16/04/2014, Page 264 of 519
Made with FlippingBook - Online magazine maker