Shares for employees
Worker participation in industry will be provided for in a scheme to be introduced by the Government. Present thinking, said Mr Rowling in his Budget speech, was that an employing company should be encouraged to give employees interest-free loans to enable them to buy company shares, at an agreed price. Provided the shares were subject to an embargo on dealing by the employee for at least five years other than sale back to the company at cost, any benefit would not be subject to tax. The company would get an i annual deduction for notional I interest equal to 10 per cent) of the loans made, in addi-j tion to any deduction that might be allowable for actual interest paid on any money borrowed for relending to employees.
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Bibliographic details
Press, Volume CXIII, Issue 33252, 15 June 1973, Page 1
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131Shares for employees Press, Volume CXIII, Issue 33252, 15 June 1973, Page 1
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