Employee share schemes widely supported

UK
companies are backing the employee share schemes introduced as part of the
Chancellor’s ‘Enterprise Economy’ in the 2000 Budget.

The
scheme allows both employees and employers tax breaks if they establish share
schemes where workers can purchase specially priced company shares.

The
first survey into take-up of the all-employee share plan revealed widespread
support among the FSTE 350 companies.

The
survey, carried out by Abbey National, Capita Share Plan Services and
employment lawyers Eversheds, found 89 per cent of FSTE 350 companies surveyed
use the Sharesave scheme and 71 per cent of companies had adopted, or intended
to adopt, the newer Share Incentive Plan (SIP).

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Justin
Cooper, head of share plans at Capital Share Plan Services, said he believes the
SIP plan will "become a major feature of the overall remuneration package
offered to employees by quoted companies".

By Quentin Reade