The Government of Canada’s recently released 2022 budget represents a significant step forward in Canada’s journey towards greater employee ownership. In this budget, the government committed to establishing an Employee Ownership Trust. These trusts are vehicles used to purchase and hold shares in a company, in the interest of that company’s employees.
This is a big deal because the lack of such a tool in Canada, in contrast with countries like the U.K. and the U.S., has made it challenging for many Canadian businesses to transfer ownership to their employees.
