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Employee Share Ownership Development Unit.



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THE HON TONY ABBOTT MP

MINISTER FOR EMPLOYMENT AND WORKPLACE RELATIONS

Media Release

03003

Employee Share Ownership Development Unit

The Government has established an Employee Share Ownership Development Unit within the Department of Employment and Workplace Relations. Funding of $1.7 million over four years has been provided to establish the Unit.

The Unit will promote employee share ownership and other forms of financial participation by employees in their company. The Unit will work with employers and employees, assist with the design and implementation of employee share schemes and provide information.

The Unit will also collect information about the barriers to participation in share ownership and the scope for share ownership to encourage corporate start-up.

The establishment of the Unit is part of the Government’s response to Shared Endeavours: An inquiry into employee share ownership in Australia (the Nelson report), announced on 27 March 2003.

These measures are designed to promote employee share ownership for workers not just executives.

The Government’s response to Shared Endeavours can be found at: http://www.treasurer.gov.au/tsr/content/publications/NelsonResponse.asp

For further information contact:

Simone Holzapfel 0417 656 668

13/05/2003