a jobseeker who refuses a job on an employee shareholder basis will not automatically forfeit their unemployment benefits
the first £2,000 of shares given to the employee will not attract income tax
So, the Commons will now re-debate - and presumably re-pass the relevant clause of the Growth and Infrastructure Bill. It will then go back to the Lords for a third time.
THE ENTERPRISE AND REGULATORY REFORM BILL RECEIVES ROYAL ASSENT
26 April 2013
Following some tinkering and concessions the Enterprise and Regulatory Reform Bill 2013 finally received Royal Assent.
Amongst other things, this legislation will bring about the introduction of a new employee status later this year – that of Employee Shareholder.
In an announcement from the Department for Business, Innovation & Skills the Business Minister Jo Swinson said:
“The measures in the Enterprise and Regulatory Reform Act will support the UK’s enterprise culture and help make it one of best places to do business.”
“It will put in place fairer systems for directors’ pay, create a world-class competition regime, support the Green Investment Bank and improve our employment system. This will help businesses to start up, grow and employ more people.” The Bill was also the vehicle for implementing some of the Red Tape Challenge reforms. Many other Red Tape Challenge reforms are being implemented by Statutory Instrument or administrative measures.
GOVERNMENT CONTINUE TO COMMIT TO EMPLOYEE OWNERSHIP
2 May 2013
The Department for Business, Innovation & Skills continue to promote employee ownership by announcing changes to over-burdensome share buy back rules which are aimed at boosting direct employee ownership and cutting red tape. Employment Relations and Consumer Minister Jo Swinson also announced that Thursday 4 July 2013 will be the first national Employee Ownership Day. The day aims to raise awareness of the Employee Ownership sector at both national and local level across the UK and to illustrate the achievements and progress made since last year’s Employee Ownership Summit.
Employment Relations and Consumer Minister Jo Swinson said:
“Hundreds of businesses will benefit from the introduction of reforms that make direct employee ownership easier and simpler for both employers and employees.”
“Evidence shows that employee owned companies can be more profitable, create more jobs and were more resilient during the economic downturn. We are committed to making direct employee ownership more attractive, cutting red tape for companies, and promoting new and more responsible ways of running a business.”
CIPP Policy News Journal
16/04/2014, Page 266 of 519
Made with FlippingBook - Online magazine maker