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ifs ProShare welcomes Government backing of employee share ownership

ifs ProShare, the voice of the employee share ownership industry in the UK, has today welcomed the coalition Government's announcement that it will be cutting red tape and reforming the tax system to encourage employee share ownership. With 44% of eligible employees already participating in a Save As You Earn scheme (SAYE), according to its latest annual survey, ifs ProShare hopes that more employees will see the benefits of this tax efficient, low risk method of saving.

John Collison, Head of ifs ProShare said:
"We have been in frequent contact with the Government as they have been considering making such schemes easier for employers to implement and therefore available to more employees. Share plans often strengthen employee - employer relationships and give all employees the ability to share in the success of the company they work for. Companies benefit from a more engaged workforce when employees know their efforts are directly contributing to the value of the company and the value of their share holding."

ENDS

Notes to editors:

ifs ProShare is a not for profit organisation that acts as the voice of the employee share ownership industry in the UK. It was established in 1992 by the Treasury, London Stock Exchange and a number of major companies to promote Employee Share Ownership.

Please ensure the letters "ifs" appear only in lower case to avoid confusion with the Institute for Fiscal Studies (often referred to as the "IFS") with whom we have no association.

For further information, please contact Matt Beasley (Media Relations Manager at the ifs) on 0207 444 7103 or email mbeasley@ifslearning.ac.uk

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