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Wednesday, 22 June 1994
Page: 1815


Senator WATSON —I give notice that, on the next day of sitting, I shall move:

  That the Senate notes that the 1994-95 Budget initiative relating to the employee share plan (ESP) proposal will disenfranchise approximately 87 per cent of the work force, that is, those people who do not work for public companies, from effectively participating in their employer's growth and performance, and that, due to the extremely low ceilings on participation amounts, many public companies will simply not bother with ESPs due to the administration and compliance costs versus the benefits.