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Inquiry into employee share ownership



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Media Release - 24 August 1999

Inquiry into Employee Share Ownership

The Parliament of the Commonwealth of Australia

House of Representatives Standing Committee on Employment, Education and Workplace Relations

Chair

Dr Brendan Nelson, MP

Deputy Chair Mr Rod Sawford, MP

Members Mr Phillip Barresi, MP Mr Kerry Bartlett, MP Dr Craig Emerson, MP Ms Teresa Gambaro, MP Mrs Joanna Gash, MP Ms Julia Gillard, MP The Hon Bob Katter, MP

Mr Kim Wilkie, MP

Correspondence and inquires: Committee Secretary House of Representatives Standing Committee on

Employment, Education and Workplace Relations R1 116

Parliament House CANBERRA ACT 2600

Tel (02) 6277 4573 Fax (02)6277 4427 E-maiheewr. reps@aph.gov.au

The Department o f the Treasury will appear before the House o f Representatives Standing Committee on Employment, Education and Workplace Relations at a public hearing for its inquiry into employee share ownership plans, at 9:00 am on Thursday 26 August 1999 in Committee Room 1R3, Parliament House, Canberra.

The Chair of the Committee, Dr Brendan Nelson, said: “Employee share ownership schemes are becoming more common in Australian publicly listed companies. It is claimed that these schemes can have a positive impact on workplace relations, productivity and national savings.”

“The Committee is keen to hear from Treasury what impact they believe such schemes might have on the Australian economy. The Committee is also seeking advice on any research undertaken by Treasury on similar plans operating in the United Kingdom and

the United States.”

“The Committee has previously taken evidence from the Department o f Employment, Workplace Relations and Small Business, the Australian Taxation Office, the Australian Securities and Investment Commission, and a range o f public companies, accounting firms and other private sector organisations” .

Many o f the submissions received for the inquiry and transcripts for hearings may be accessed on the internet at: http://www.aph.gov.auTiouse/committee/eewr/eso/index.htm

For further information:

Tel. Dr Nelson (02) 6277 4433 or Committee Secretariat (02) 6277 4573

Terms of Reference The extent to which employee share ownership schemes have been established in Australian enterprises and the resultant effects on:

(a) workplace relations and productivity in enterprises; and (b) the economy.