Inquiry into employee share ownership in Australian enterprises
Media release, 3 September 1999

Public Hearings in Melbourne, September 7 & 8

The House of representatives Standing Committee on Employment, Eduction and Workplace Relations will hold public hearings for its inquiry into employee share ownership plans, in Melbourne on 7 and 8 September 1999. Evidence has already been taken from a number of key witnesses, departments and private organisations at hearings in Canberra and Sydney.

The Chair of the Committee, Dr Brendan Nelson, said: "The Committee is considering the extent to which employee share ownership plans have been established in Australia and the benefits they might produce. Many of the submissions to the inquiry have claimed that employee share ownership schemes have increased productivity and improved workplace relations in Australian enterprises."

"Overseas research suggests that employee share ownership schemes may encourage national savings and have a positive impact on workplace relations. The Committee is keen to hear what Australian industry experience has been with these schemes."

"Representatives from Telstra, Esso, BHP, Southcorp, KPMG, North limited, CSL Limited, Colonial Limited, ACTU, the Financial Sector Union and the Australian Chamber of Commerce and Industry are scheduled to appear before the Committee. Their testimony will assist the Committee in its examination of the broad economic impact of employee share ownership schemes in Australia."

Dr Nelson said: "Many submissions have strongly criticised aspects of taxation and corporation law for hindering the development of employee share ownership in Australia. The Committee will continue its investigation of these issues."

"I would urge organisations who have something to contribute to the inquiry to put in a submission as soon as possible."

The terms of reference for the inquiry and the schedule of the public hearings are given on the next page.

Many of the submissions so far received may be accessed on the internet at:
http://www.aph.gov.au/house/committee/eewr/ESO/index.htm
For further information:
Tel. Dr Nelson (02) 9416 4044
or Committee Secretariat (02) 6277 4573.

Public Hearings
Venue: Level 8, 35 Spring Street Melbourne

Program
Tuesday 7 September 1999
10:00am Esso Australia Ltd
10:45am Southcorp Limited
11:30am North Limited
12:15pm Australian Chamber of Commerce and Industry
1:00pm Lunch
2:00pm ACTU
2:45pm Mr Gavan Spring
3:30pm BHP
4:15pm KPMG

Wednesday 8 September 1999 9:00am Finance Sector Union (FSU)
9:45am Telstra
10:30am Colonial Ltd
11:00am Mr David McKenna
11:30am Mr Richard Stradwick
12:00pm Ms Sarah Turberville
12:45pm Lunch
2:30pm CSL

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.

The Committee is continuing to receive submissions, which may be sent to:
The Secretary,
House of Representatives Standing Committee on Employment, Education and Workplace Relations
R1, 116, Parliament House, Canberra ACT 2600.
Submissions e-mailed to eewr.reps@aph.gov.au will also be accepted provided they include a postal address.

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