Demise Of Employee Share Schemes

EDM number 667 in 2002-03, proposed by Tony Colman on 05/02/2003.

That this House notes the great benefits to employees and employers of broad-based employee shares schemes which have been promoted by this and previous Governments and from which millions of UK employees have benefited to the extent of over ú35 billion; registers its grave concerns over the impact on such schemes of the International Accounting Standards Board and the Accounting Standards Board proposals on accounting for share-based payments; notes the calls by the TUC, ProShare and others that broad-based schemes should be excluded from this new accounting charge; calls on the Government to add its voice to the calls for such an exclusion; and further calls upon the International Accounting Standards Board and the Accounting Standards Board to draft wording which, while abiding by the general principle of the proposed standard, would exclude broad-based schemes from an accounting charge.

This motion has been signed by a total of 48 MPs.