- 11 September 2024
You might recall that we had the backing of 40 companies and organisations to last year's letter to the previous Chancellor - Jeremy Hunt - in support of ProShare’s response to the government’s Call for Evidence on Save As You Earn (SAYE) and Share Incentive Plans (SIP). We have surpassed that this year with 56 organisations endorsing our letter calling for the Chancellor to bring forward share plan reform and modernising SAYE and SIP. It is a testament to the unity of the industry that so many have backed our call on the new government to finish what the last government started.
It’s twelve months since the Call for Evidence on all-employee share plans closed and while we are disappointed that no response emerged from the Conservative government, we hope that Rachel Reeves will see the opportunity for all-employee share plan reform. More than 20 million workers across the UK have participated in these plans since their introduction. It's vital that they are modernised to reflect current working patterns so that as many companies and their employees as possible can benefit from the enhanced productivity, financial resilience, and employee engagement they bring.