Understand Your Rights. Solve Your Legal Problems
In a landmark international capital markets transaction, Milbank, Tweed, Hadley & McCloy LLP advised BNP Paribas, Deutsche Bank, JP Morgan and Viet Capital as placement agents in the initial public offering by Vietnam's leading budget airline, VietJet Aviation Joint Stock Company.
The approximately $170 million offering of 44.78 million shares represents the largest IPO in Vietnam's history and the country's first internationally marketed IPO. A private placement of shares by VietJet's founder and chairwoman, Nguyen Thi Phuong Thao, is scheduled to be followed by a top-up subscription after listing. The listing of shares on the Ho Chi Minh City Stock Exchange is set for February 28th.
Capital Markets partner James Grandolfo led the Hong Kong-based Milbank team which included senior associate Kurt Sherwood and associate Ari Singzon. The transaction was supported by aviation partner Paul Ng, based in Singapore.
Mr. Grandolfo noted: "We are exceptionally pleased to have advised these leading investment banks in helping VietJet take a historic step, for both the country and the company. The success of the VietJet IPO is an important milestone in the development of Vietnam's capital markets. In addition, the capital raised by VietJet in the offer will help support expansion of its international routes and the enlargement of its fleet, which are critical for VietJet to compete in the Asian aviation market – one of the fastest growing and dynamic aviation markets in the world."
Milbank was recently named "Most Innovative US Law Firm in Asia" by IFLR. In addition to its highly-respected and industry-recognized Hong Kong capital markets practice, Milbank boasts one of the most respected global aviation law practices. The firm recently advised VietJet in several other important transactions, including an $11.3 billion purchase agreement for Boeing aircraft, announced in May 2016, and a $2.39 billion agreement to acquire Airbus aircraft, announced in September. Milbank also advised VietJet in a $3 billion contract with Pratt & Whitney for the purchase of aircraft engines and in several multimillion-dollar agreements for maintenance, services, and flight training simulators.
(Source: Milbank)
International legal business DWF has warned that insurers writing business in Scotland are likely to face significant challenges when the Scottish Government introduces qualified one-way cost shifting (QOCS) and Damages-Based Agreements later this year.
The proposals form part of the Expenses and Funding of Civil Litigation (Scotland) Bill, now expected to be published in May 2017 with a call for evidence before the Justice Committee of the Scottish Parliament in the autumn.
The proposal on QOCS began after Sheriff Taylor published his 2013 report on the funding of personal injury litigation in Scotland. Although that report stated there was no compensation culture in Scotland, in recent years increased levels of fraud have been detected in Scotland, along with a significant rise in injury claims. In part, this is thought to be due to the effect of LASPO in England pushing claims management companies into Scotland, where their activities are not regulated and referral fees are allowed. Anticipated whiplash reforms south of the border are likely to increase this effect.
The current proposal is for a claimant to lose QOCS protection when fraud is established (similar to fundamental dishonesty legislation) but at this stage there is no intention to cap claimant costs. DWF has warned that there are clearly real risks for what this will mean in terms of fraud and overall claim volumes in Scotland, and beyond that the knock-on effect on premiums and uninsured driving.
Andrew Lothian, Head of General Insurance (Scotland), DWF, said: “The political reality of the Scottish Parliament means that QOCS is almost inevitable. We suspect the real battleground will be on the restrictions on QOCS, regulation of claims management companies and, potentially, on claimant costs.
“We are already seeing increasing numbers of claims and increasing fraud in Scotland. We are concerned about the unintended consequences of the Bill and the impact it will have in this jurisdiction in terms of claim volumes, fraud, and uninsured driving. We have already presented some of our data to the Scottish Government and will continue to argue for a more balanced approach to costs and funding. Any insurer writing casualty or motor business in Scotland needs to understand the proposed changes and the effect they will have on their business. We are working hard to engage and raise awareness on this issue.”
At present, the regulation of claims management companies in Scotland is to be considered as part of a wider review of the regulation of the legal profession, expected to be announced imminently.
As a major law firm in Scotland, DWF is participating in the Business and Regulatory Impact Assessment for the Bill and is seeking to give evidence at the Committee Stage of the Bill later this year.
(Source: DWF)
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Board of Trustees at Dubai Future Foundation, recently initiated planning for Dubai 10X with all of the Dubai government heads to position the Emirate 10 years ahead of all other cities.
His Highness stated, "Sheikh Mohammed no longer accepts being just number one, we want to be 10 years ahead of all other cities".
His Highness Sheikh Hamdan said, "Traditionally, governments are known all over the world to be resistant to change and bureaucratic organisations that are last to adopt disruptive innovation. The future is a collection of ideas and ambitions that are made and tested in experimental laboratories, and 10X transforms Dubai into the world's largest laboratory for governments of the future."
The Dubai 10X sets the Government of Dubai on a mission to be 10 years ahead of all other cities - hence the name 10X (with X symbolizing experimental, out-of-the-box, future oriented, exponential thinking).
Placing Dubai 10X in context, His Highness Sheikh Hamdan stated, "The future belongs to those who affect radical changes, not those who make minor, gradual improvements. The future will not be as patient with us as the present. Today, I am calling on all government leaders and employees to embrace disruptive innovation and find new, creative and truly disruptive approaches and technologies to delivering their mission rather than incremental and minor improvements."
His Highness further added, "succeeding in advancing 10 years ahead of all other governments requires all of us to adopt a culture of creative disruption, allowing not only our tools and systems to be enhanced, but also our mindsets, to be revamped, upgraded and open to embracing disruption."
Dubai government entities are required to produce plans for three specific elements within one month:
His Highness finally added, "we want to achieve real, impactful and 10x happiness outcomes for society and establish a unicorn government that becomes a platform to deliver moonshots."
(Source: DubaiFuture.Gov)
While owning or managing a business, it is vital that you build and nurture relationships in the same way you nurture the sales of your product or service. You will interact with everyone from suppliers, customers, employees down to advisors and other vendors; all of these individuals contribute to the success of your business, so, should a dispute arise – it’s business critical that it is resolved quickly, without undue conflict to ensure that the essential connection is maintained. Exclusively to Lawyer Monthly, David Cooper, Partner at Taylor Rose TTKW, gives an outlook on every you need to know.
Commercial disputes are an unwanted risk and divert valuable time and resources away from activities that are productive and profitable. Not all disputes need to develop into litigation; it is possible for them to be resolved through honest discussion, negotiation or mediation before they develop and lead to court action.
Below we run through three common areas for disputes to arise and the ways that they can be prevented, or resolved.
Employment Issue Disputes
Every business is legally obliged to provide each employee with a basic employment contract within two months of them commencing employment. As a bare minimum, this contract should cover working hours, salary and holiday entitlement.
These employee contracts do not need to contain clauses in order to be legally binding, especially when the requirement is deemed as patently obvious, is fundamental to the individual being able to perform the duties of the role, or if it is part of a well-established company practice. In these instances – it’s not necessary for the inclusion to be in writing to enforce it.
When it comes to employment law, the best practice is to take a preventative approach, to limit any doubt over what is deemed acceptable and what is expected, and to set out everything in writing. This ensures that employee contracts are watertight and supersedes the possibility of any ambiguity.
This does not always prevent disputes from arising, but it does mean that you can take the approach of straight talking and mediation. In these cases, often listening to employees and reaching a mutual understanding is enough to prevent further action being taken; although many opt to have legal or professional HR representation to ensure that they are remaining on the correct side of the law, and that the meeting is properly documented.
Breach of Contract Disputes
When signing a contract, it is expected that the terms of the contract will be honoured. Business contracts are often complicated and involve large sums of money or long periods of time; it is imperative that these are read thoroughly and that all terms and conditions are understood. Although, a contract may also be made by word of mouth or implied via conduct of both parties – however having a written contract can be used for evidential purposes.
You should note that there are circumstances by which a written contraction is a legal requirement in order to fulfil registration requirements.
If one party fails to carry out their side of the contract, then said party is in breach of contract. Breach of contract also occurs when completed work is defective or if one party declares to the other that they will not be carrying out the work that was agreed.
Other breaches include late or non-payment, failure to deliver goods or services or late services without a ‘reasonable’ excuse. Breaches can range from minor, material, fundamental or anticipatory.
In many cases of breach of contract, it is ultimately about the financial damages and how they can be recuperated. Negotiations with the breaching party or the party that is accusing you of breach of contract is an effective method. You should seek legal representation and ensure that they have a clear picture of your objectives and goals for the outcome, along with an accurate assessment of the damages.
The negotiations should focus on the cause of the breach and if there is a way to modify the contract to allow it to be fulfilled. Most business contracts are written in a way that addresses remedies for breach of contract; if initial negations are not successful, then the situation moves into mediation and ultimately to court. Each step of this process increases associated costs and time frame to resolution, so the primary strategy should aim to resolve the breach at an early stage.
Fiduciary Duty Disputes
The fiduciary duties and responsibilities of a director are often anything but clear, but the liabilities have the potential to be devastating. In short – directors must always be acting within the best interests of the company.
Fiduciary duties have been developed through the common law and is regarded as the highest duty. The term is an umbrella term for a range of duties; duty of care, duty of informed judgement, the duty of disclosure, the duty of confidentiality and the duty of loyalty.
These duties apply to executive and nonexecutive directors and are not legally required to be set out in writing, although they are enforceable by the company; shareholders can act against any director that has breached their duties. The Companies Act 2006 contains the seven responsibilities and duties that directors must comply with.
Breach of director’s duties are serious, and are likely to go straight to legal action. Injunctions are often used to order a director to do an act or omit from doing an act, or to prevent the director from damaging the company by acting in breach. If an injunction is granted (there are criteria that must be met), then a company is usually able to claims its costs from the director that is accused of being in breach of duty. The timeframe of which these costs are recovered can be lengthy as the court often reserves them until the date of the full trial. In this instance, some companies decide to offer an undertaking to the director, requesting that the director acts for the benefit of the company; an undertaking that is correctly drafted is as enforceable as a court order.
Directors can also be removed from office, and again, a preventative approach can be taken here. A director’s service agreement should contain a detailed provision that outlines the circumstances by which a director can be dismissed from employment and their position as director.
Commonly, directors do not have a director’s service agreement, and this presents a problem because while they can be dismissed from employment – there is no contractual power to remove them from their position as director. In this instance, the shareholders can remove a director by majority vote providing certain criteria is met.
When in the day-to-day activities of conducting business, it’s easy to focus on the fundamentals of the transactions and getting the deal done. But each time a contract is drafted and handed over, it’s an important exercise to step back and analyse the risks and potential breaches. This enables you to avoid the potential for a dispute to arise, saving you money, time and resources.
British producers of machinery, electrical equipment, automobiles, and pharmaceuticals will see import tariffs of up to 9.5% on their trade with Canada slashed after the European Parliament supported the EU-Canada free trade deal (known as CETA).
In addition to eliminating 99% of duties on imported British goods the agreement will ease the export of services and the access of British professionals to work in Canada.
The European Parliament approved on 15th February the Comprehensive Economic and Trade Agreement (CETA) between the EU and Canada by a vote of 408 'for', 254 'against' and 33 abstentions.
European Commission President Jean-Claude Juncker said: "The vote by the European Parliament is an important milestone in the democratic process of ratification of the agreement reached with Canada and it also allows for its provisional entry into force. As a result, EU companies and citizens will start to reap the benefits that the agreement offers as soon as possible."
Britain exports goods worth £4.5 billion (2015) to Canada. The sectors with the largest exports are machinery and electrical equipment with £1.2 billion of goods sold in the Canadian market annually. These sectors employ more than 380,000 people in the UK and account for 16% of total EU exports to Canada. Although the average tariffs in these sectors have been relatively low, some products face tariff peaks of 9%. Apart from savings on customs duties, CETA will enable British companies to do away with the costs of double testing thanks to the provisions on recognition of conformity assessment certificates
The UK is also the EU's second biggest exporter of motor vehicles to Canada, with £600 million worth annually, 15% of the EU total.and Canadian tariffs currently as high as 9.5% will be removed.
Furthermore, Britain exports to Canada £110 million worth of spirits, mainly whisky and gin. While whisky is tariff-free, gin faces specific tariffs of CAD 4.92 cents per litre of pure alcohol. For these spirits, tariff elimination is complemented by the removal of other trade barriers, including several 'behind the border' barriers that make it difficult for British exporters to access the Canadian market.
CETA includes also provisions to make it easier for British professionals to work in Canada (and vice versa) and to have their qualifications recognised. This is a big plus for companies that provide services such as after sales back-up for exported machines or software or make complex products – such as machinery - that require installation or maintenance. This can be particularly beneficial for smaller and medium-sized firms, as they may not be able to provide permanent staff on the ground.
CETA also creates a framework for the recognition of professional qualifications for regulated sectors like architects and accountants.
After the vote in the European Parliament, the agreement needs to be ratified by the Canadian side in order to enter provisionally into force. That could happen by 1st April 2017, according to estimates by Members of the European Parliament and trade experts.
(Source: EU Commission)
The Commission recently proposed to amend the Comitology Regulation, increasing transparency and accountability in the procedures for implementation of EU legislation.
The Commission is delivering on President Juncker's pledge in his State of the Union Speech in September 2016 when he stated: "It is not right that when EU countries cannot decide among themselves whether or not to ban the use of glyphosate in herbicides, the Commission is forced by Parliament and Council to take a decision. So, we will change those rules."
The package of four targeted amendments will enhance transparency about the positions taken by Member States, allow for greater political guidance, and ensure more accountability in the decision-making process. The four measures proposed are:
The comitology system works well for the large majority of decisions. However, in a number of high profile and sensitive cases in recent years Member States have been unable to find the necessary majorities to either vote in favour or against certain draft acts, a so-called 'no opinion' scenario. In these cases, the responsibility to take a final decision falls upon the Commission, obliging a decision to be taken without clear political backing from Member States. In 2015 and 2016, the Commission was legally obliged to adopt 17 acts which concerned the authorisation of sensitive products and substances such as glyphosate or genetically modified organisms (GMOs), despite Member States being unable to take position either in favour or against the decisions.
This proposal was announced as one of the key new initiatives in the 2017 Commission Work Programme. It will now be transmitted to the European Parliament and the Council.
(EU Commission)
The February issue of Wolters Kluwer's Blue Chip Economic Indicators suggests that Congress is likely to pass – and President Trump is likely to sign - comprehensive legislation aimed at reforming the tax code this year.
This month's report suggests that, while the Trump Administration's pledges of tax cuts, infrastructure spending and regulatory relief have propelled consumer and business confidence to multi-year highs and lifted US equity indices to record levels, panelists remain reluctant to significantly alter their forecasts of US economic performance for 2017 and 2018. The report also notes that securing congressional passage of major tax reform and infrastructure-related legislation is expected to be fractious and time consuming, and that there is considerable opposition to inclusion of a border adjustment (effectively a 20% tax on all imports).
"The consensus anticipates comprehensive tax reform legislation, but fewer than one third of panelists believe that a border adjustment component will be included as part of any tax reform that is approved," said Randell E. Moore, executive editor of Wolters Kluwer's Blue Chip Economic Indicators.
The consensus indicates that US economic growth in 2017 and 2018 will be somewhat stronger than last year. Real GDP growth is predicted to grow 2.3% this year and 2.4% in 2018, compared to 1.6% in 2016.
Other consensus findings from this issue of Wolters Kluwer's Blue Chip Economic Indicators exclusive survey include:
(Source: Wolters Kluwer)
Legislation was introduced in the House and Senate to secure the future of the New Markets Tax Credit (NMTC). Congressman Pat Tiberi (R-OH) and two colleagues on the House Ways and Means Committee, Congressmen Tom Reed (R-NY) and Richard Neal (D-MA), the Ranking Member on the committee, introduced the House bill. They were joined by 19 of their colleagues. In the Senate, the bill was introduced by Senators Blunt (R-MO) and Cardin (D-MD). The bills, both titled The New Markets Tax Credit Extension Act of 2017, respectively H.R. 1098 and S. 384, would ensure that rural communities and urban neighborhoods left outside the economic mainstream have access to financing to grow their economies and create jobs.
Established in 2000 in the Community Renewal Tax Relief Act (P.L.106-554), the New Markets Tax Credit is a bipartisan effort to stimulate investment and economic growth in low-income urban neighborhoods and rural communities. Congress extended the NMTC for five years as part of The PATH Act. (P.L. 114-113) in December 2015. Since the Trump Administration and Congressional leaders are working on a major tax overhaul, organizations, businesses and communities that have seen the impact of the NMTC have recently urged Congress to make the credit a permanent part of the tax code.
"Last week, some 2,000 groups sent a letter to Congress, calling for legislation that provides a permanent authorization and expansion of the NMTC. The strong support of the New Markets Tax Credit is a direct result of the tangible impact it is making in distressed rural and urban communities that have been left outside the economic mainstream," said Bob Rapoza, spokesperson for the NMTC Coalition. "The NMTC has generated over 750,000 jobs and delivered $75 billion in total capital investment through public-private partnerships."
The letter to Congress is signed by public and private organizations from every state, including community development organizations; nonprofit service providers; banks and credit unions; state and national trade associations and chambers of commerce, including the American Bankers Association and other groups representing thousands of members; affordable housing organizations; schools, universities and education nonprofits; city governments, state and local elected officials and agencies; and many other businesses, ranging from very large businesses to small, family-owned businesses.
US Department of the Treasury data indicates more than 72% of NMTC activity is in severely distressed communities with unemployment rates at least 1.5 times the national average or with poverty rates of at least 30%. In FY 2016 alone, the CDFI Fund, which operates the program at Treasury, reported that the NMTC delivered $3.16 billion in financing to 530 businesses, community facilities, and economic revitalization projects. Communities put the capital to work, creating nearly 11,000 permanent jobs and almost 27,000 construction jobs in areas with high unemployment and poverty.
House and Senate lawmakers have added their own perspective to the introduction of this legislation:
"The New Markets Tax Credit has spurred investment and driven real job growth across the state of Ohio. It is an important program that helped revitalize the Over-the-Rhine neighborhood in Cincinnati, financed the Ironville Terminal in Toledo, funded a new grocery store in an underserved area of Columbus and much more. Making the NMTC a permanent part of our tax code would provide more certainty to communities across the country looking for the same proven results of unlocking economic potential based on their needs."—Congressman Pat Tiberi (R-OH).
"The New Markets Tax Credit (NMTC) has generated billions in capital, driving business and jobs growth in communities that need it most. In Massachusetts, this highly successful initiative has helped spur development from the Berkshires to Boston. In Holyoke, the NMTC-financed Massachusetts Green High Performance Computing Center created 13 jobs at the center, and more than 130 research and research-related jobs at the universities."—Congressman Richard E. Neal (D-MA).
"We are excited to introduce a bill that will permanently extend the New Markets Tax Credit. Making these changes to the program will provide certainty to those looking to make long-term investments in upstate New York. This is fair and necessary legislation that will help spur economic growth and job creation in communities across the country." – Congressman Tom Reed (R-NY).
"The New Markets Tax Credit Program has a proven track record of spurring investment, expanding opportunity, and improving the quality of life in communities that need it most. In Missouri, the NMTC has benefited a total of 177 businesses and economic revitalization projects, creating thousands of jobs and resulting in a total of $3 billion in new investments. The NMTC provides a critical incentive for drawing much-needed capital to low-income rural and urban areas, and I look forward to working with my colleagues to ensure it continues." –Senator Roy Blunt (R-MO).
"In Maryland, the New Markets Tax Credit has been deployed across our state on a diverse range of infrastructure and community development efforts, from a supermarket project to provide greater access to healthy food in my home city of Baltimore, to a conservation center on the Eastern Shore," Cardin said. "I am pleased once again to be a supporter of this bipartisan legislation, which will create jobs and stimulate our economy in communities across Maryland and across America." –Senator Ben Cardin (D-MD).
"As a result of the credit's proven ability to create jobs and move the economic needle in the rural and urban areas where it's been invested, the New Markets Tax Credit has the support of a strongly bipartisan delegation in Congress," said Robert W. Davenport, President of the NMTC Coalition and President Emeritus of National Development Council. "We hope their colleagues will follow suit and support the NMTC Extension bills, which will help create thousands of jobs and grow business opportunities in our communities that need it the most."
(Source: New Markets Tax Credit Coalition)
Nearly a third (30%) of senior business decision makers are aware of employees at their current organisation suffering from a mental health issue, with 18% aware of employees who have had to leave their job because of their mental health.
A YouGov study, commissioned by leading job board, totaljobs, surveyed 606 senior business decision makers across Great Britain to find out their opinions on mental health in the workplace. Despite high numbers of staff suffering from mental health issues, just 18% of senior business decision makers believe that their employees feel comfortable speaking about it with them. With a further 17% saying that there is a greater ‘stigma’ towards mental health conditions than physical ones in the workplace.
The study also showed that only 1 in 12 (8%) senior business decision makers believe employers are given enough support and advice regarding how to deal with mental health issues in the workplace. As well as identifying senior decision maker’s opinions on mental health at work, the study revealed January is believed to be the month in which British workers are most likely to take time off work for illness, with 20% of those surveyed stating this is the month they notice employees taking the most sick days off work. Many employers now offer health and wellbeing services to their staff, to help support their general welfare in the workplace. Of those surveyed the most prevalent service offered was flexible working hours, followed by encouragement of regular breaks and counselling.
Top 5 mental health and wellbeing services offered to employees: 1. Flexible working hours (44%) 2. Encouragement of regular breaks (28%) 3. Counselling (free or paid-for) (24%) 4. Staff surveys specifically to ensure employees are not struggling at work (19%) 5. Gym membership (free or discounted) (19%) Case study: Lanes Group, a leading drainage specialist, believes in the importance of looking after the wellbeing of its workforce, and has recently launched an app to monitor and support how its employees are feeling on a daily basis.
Debi Bell, Head of HR Services, said: “Looking after our staff and ensuring they are happy to come to work is very important to Lanes Group. We’re a family-run company and caring for others has always been a big part of how we work together as a team.
“In 2015, we carried out a full review of HR procedures, which included a staff survey called What Matters Most. A key objective was to be clear about how our staff wanted to be treated as team members and valued individuals. We believe that if the company makes it clear that it wants to treat its staff with respect, managers and supervisors will act with greater care. That way, they will be in a better position to pick up on mental health and wellbeing issues as they arise.
“As a result of the What Matters Most survey, we introduced a number of measures, such as sending out cards and gifts for birthdays, achievements and major milestones. We have also increased the number of events we organise, and involvement with community support schemes and charity fund-raising. The response from our staff has been very positive, as they feel more valued and involved in Lanes company life.
“We have recently developed an app for our employees who work on one of our main wastewater contracts. Our teams have challenging jobs, as they have to work under time pressure, using some of the UK’s most sophisticated specialist drainage technology. Therefore, supporting their wellbeing and mental health has always been a priority and the Happiness app is our latest initiative.
“We are a very digitally-advanced utilities company - our operational teams use smartphones to communicate with each other, receive job notifications and record jobs as they are being done. Before each shift employees can open the Happiness app, and answer questions on how happy they feel in that moment. They have five choices, from ‘Very unhappy’ to ‘Very happy’. If they answer ‘Very unhappy’, they are offered another choice, ‘Do you want to talk to someone about why you are very unhappy?’ If they answer ‘Yes’, their line manager is notified, and will get in touch with the colleague to see if they can help.
“The app records data every day, and will allow us to build a picture of workforce wellbeing over time and geographically throughout our operational hubs. It gives our colleagues a daily opportunity to say how they feel, ask for help if they need it, and give us information that will help us build and a better health and wellbeing strategy.
“We realise that we have started a journey with the app. It will only work if colleagues trust us as a company, and see that our commitment to offer support when we can is genuine. It is also just one way we engage with, and involve, our employees. Fostering wellbeing and improving the mental health in the workplace can only be achieved by continuous effort across a number of fronts.”
Expert comment: Nina Fryer, Senior Lecturer in Health and Nutrition at Leeds Trinity University, alongside colleague Dr Ian Kenvyn has recently evaluated the effects of the stigma of mental health in the workplace, for Mindful Employer Leeds. Their research shows that with 1 in 4 people experiencing mental ill-health at some point in their lifetime, the workplace has a huge potential to have a positive impact on this.
Nina said: “One of the best things an employer can do is to uncover the ‘elephant in the room’ that is mental health. This can be achieved through providing visual and verbal information on mental health support, such as posting where to find mental health support on staff notice boards and in staff common areas.
“It is also important to introduce discussions about mental health and positive wellbeing into appraisals. Offering training to managers in how to initiate and follow up conversations about mental health, provides a pathway for employees who are suffering to take action. Finally, ensuring that men are represented in communication around mental health is important, as we know that men, in particular, are more reluctant to discuss it.
“One of the largest barriers to people seeking support with mental health issues in the workplace is the stigma that they feel is associated with it, and the concern that they will be appraised or judged negatively if they do disclose.”
Quote from totaljobs: John Salt, Group Sales Director, at totaljobs, added: “In recent years, mental health issues have started to be more openly discussed in the workplace. Unfortunately, there are still many organisations and industries where this isn’t the case.
“It is important that employers create a working environment in which their staff feel comfortable and safe in disclosing confidential information. But it is equally vital that managers have adequate training and support in order to help their employees with mental health concerns.”
For more information on mental health in the workplace, you can visit TotalJob's mental health hub here.
(Source: totaljobs)
AARP recently launched a campaign against the ‘age tax’, a proposed unfair penalty on older adults that would line the pockets of big insurance companies, allowing them to charge older Americans over $3,000 more than they currently pay per year. AARP launched a new series of advertising that will also appear in numerous Congressional districts when members of Congress return home for President's Day week.
"AARP urges Congress and the administration to reject the proposed 'age tax' bill," said AARP Executive Vice President Nancy LeaMond. "This so called "age rating" proposal is Washington speak for an unfair tax increase that only helps insurance companies. AARP will fight to hold our elected officials accountable for taxing older American families with a burden they don't deserve and can't afford."
In its current form, the age tax legislation, HR 708, would penalize middle class American families by changing current law to allow health insurance companies to charge older Americans up to five times more in insurance premiums than other people, a large increase from current law which already allows companies to charge three times more. This proposal would have a severe impact on Americans aged 50-64 who have not yet become eligible for Medicare, and who may also have children under age 26 on their health insurance plans.
A report released by AARP's Public Policy Institute, Impact of Changing the Age Rating Limit for Health Insurance Premiums, also more specifically shows that changing the 3:1 limit on age rating to 5:1 would significantly raise premiums by as much as $3200 for older adults.
AARP's latest efforts come in addition to their continued advocacy of members of Congress and the Trump administration about the age tax. AARP continues to meet with members of Congress and urge them to oppose the age tax, laying out in detail the negative impact in letters this month and in December. The ads also come as an addition to AARP's Medicare campaign, which takes on "premium support," a proposal that would harm Medicare beneficiaries by turning the successful program into a private voucher program.
(Source: AARP)
