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Stunell backs demand to save employee share schemes

April 22, 2003 12:00 AM

Local MP Andrew Stunell is pressing the Government to rescue employee share schemes threatened by a new national accounting charge that could end employee share plans.

Mr Stunell, who has raised the issue at Westminster, said, "Employee share schemes are essential to thousands of people in Stockport. They top up small retirement pensions and savings and help people meet everyday expenses as well as repay debt."

He fears that if these proposals are pushed through most small to medium companies won't be able to afford to maintain their schemes. "The real sufferers will be hardworking employees saving for a rainy day."

Mr Stunell said, "This is yet another setback in the sorry mess of pension's policy. The Government must recognise how crucial these share schemes are to many workers and scrap these new charges. "

ENDS

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