newspad

It’s our business – the Centre’s monthly has been synonymous for many years with the name of its editor Fred Hackworth. It is fitting that the new Chancellor has given him a rousing send-off by selecting for action Fred’s almost lone call for making effective use of the CSOP. Doubling its maximum was at the lower end of the ideal but it was a strong move. He was also glad to see the end of the Office of Tax Simplification, whose recommendations had frequently riled him and many members of the Centre. But most pleasing for all of us was the Chancellor’s clear summation from the despatch box – We want this country to be an entrepreneurial, share-owning democracy. 
From the pages of newspad Fred led an unrelenting and well-informed campaign on behalf of the original shareholders of Roadchef. He has passed on access to the channels through which he kept informed and through which as a journalist by profession he was able to cover the sad story with impunity.
That will be harder for the Centre in a world where the consensus favours good news, but I shall personally keep his high ideals in view. I have compared the Roadchef saga with Dickens’ Jarndyce v Jarndyce in which the pot was empty after all legal fees. However, I understand that there are substantial sums of money now gaining ever more interest so there may be light at the end of this rare dark tunnel for employee ownership. Fred’s light will continue to shine. 

Malcolm Hurlston CBE

Please send all press releases, company bulletins and news items for newspad to esop@esopcentre.com. Thank you.

October 2022

TOP STORY

• Centre win on key CSOP reforms

MOVERS & SHAKERS

• Fred Hackworth retires as newspad editor
• New employee director at Capita
• On the move

EVENTS

• Newspad 2022 Awards: entries welcome
• Webinar: International share schemes – exporting the vision, October 25 

UK CORNER

• Inflation
• Courts marathon over property fund EBT
• Registry of beneficial company and trust owners
• Fintech UK still booming
• Pensions
• Taxpayers defrauded via Covid loans?

COMPANIES

• Executive reward and employee equity news of 13 companies 
• Companies fight the great resignation
• New EOT
• ESG turmoil

WORLD NEWSPAD

• Germany: Pitch to let go 30 percent of its staff
• France: Insurer AXA Group’s Shareplan 2022 rollout
• France: Rémy Cointreau’s Esop extended to cover international staff
• France: Snap pulls plug on Zenly, eliminating its staff’s jobs
• Russia: Authorities consider imposing reprisal measures on companies abandoning Russian market
• US: Hard Rock International and Seminole Gaming invest $100m to raise wages of half their employees
• US: Governor of Florida prohibits consideration of ESG factors when investing state money

Read this month’s newspad in full.

To access the Investment Public Register – referred to in newspad as the Investment Association’s ‘sin bin’ – go to www.theia.org/public-register

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