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The government has received around 70 responses from a wide range of interested parties to the “Supporting the employee-ownership sector” consultation published in July 2013. This document summarises the main issues raised by respondents and the government’s response and is publishing alongside Finance Bill 2014.
At Budget 2013, the government announced that it would provide £50 million annually from 2014-15 to support employee-ownership models and to incentivise growth of the sector.
The government is keen to support the sector and to encourage the creation and growth of companies with employee-ownership. This consultation paper sets out the government’s proposals for the best use of this funding.
The consultation looks to understand more about the size and nature of the employee-ownership sector, and seeks views on the government’s proposals. We welcome views from all interested parties.
The government will publish a summary of the responses to this consultation in the autumn. Responses will help to inform draft legislation which will be published for further consultation at Finance Bill 2014.