In the meantime consultations are ongoing

After the opening of the capital of SFM, another big piece expected members. Presented before the summer, in pain and with delay, Bercy and the Ministry of labour, the draft law for the development of participation and the employee share ownership pass finally in first reading at the beginning of October Assembly, probably 5 or 6. In the meantime, consultations are ongoing. Jean-Louis Borloo, Thierry Breton, and Gérard Larcher today are given a hearing by the commission for Social Affairs, chaired by Jean-Michel Dubernard. Yesterday, Jacques Chirac, assured that "the participation and the savings" are "essential to the future balance of our society", "a way to increase the purchasing power" and "protect our companies." In the majority, some want a more ambitious text. This is the case of the President of the commission for Economic Affairs, Patrick Ollier (UMP), rapporteur for opinion on this project and supporter of longtime development of participation.

Are you satisfied with the Bill in the current state

The text is still too timid and too narrow scope. It strengthened into a real project of society. To this end, Jean-Michel Dubernard and I will jointly propose amendments, in particular to impose the participation in SMEs with fewer than 50 employees. I hope that they have the obligation to establish, with incentives and procedures on the basis of their legal structure, at least one of the three existing devices, namely the engagement, participation, or the distribution of shares to employees. It must also establish incentive premiums in the three public functions and domestic firms. It is a site that it is time to start.

You are the first to have proposed the establishment of a dividend of labour in 2005. Should what form we give him

He must defend the Gaullist idea of association of capital and labour in and out of a vision inherited from history, who considers that one and the other are competing. Employees shareholders must no longer be treated differently from other shareholders. They receive every year, under the same conditions as all other shareholders, dividends which it would immediately, without obligation to reinvest in a mutual fund or to keep a few years.

Should we change the time of blocking the participation

I hope that it brings back five to three years. If is associated with the concept of participation to the rehabilitation of the purchasing power, must be that the employees see prospects. Five years, it is very long. Three years would be a more suitable time and still leave time for businesses to benefit from the reserve of participation to finance investments. It is a better option to multiply the case of release or expand loans pledged participation, which would complicate the device while he needs to win in simplicity.

The Bill includes measures of supervision of the stock

It is the wish of Thierry Breton. But I am very anxious to see this text to add. It is already passed 20 articles in more than 40. It has been the ticket transport, the securing of career paths, the employment of senior citizens, now the stock... Beware not to obscure the debate on the participation!

The problem of stock options is linked to the risk of insider trading. Of the more rigorous transfer process to be to remove any suspicion. Edouard Balladur to prohibit a leader in exercise to sell is too radical, but it would turn stock options in long capitalization. I propose instead to entrust to an authority, for example to the authority of financial markets, care to give the green light before any assignment after having verified that there is no possible suspicion.