BVCA response to Budget 2020
Responding to today’s Budget Statement, Michael Moore, Director General of the British Private Equity & Venture Capital Association (BVCA), says:
“We are pleased to see the Chancellor supporting the economy at this crucial moment when Coronavirus is affecting people’s lives and businesses.
As a sector which has investments in over 4,000 companies, which employ over 800,000 employees in the UK, we welcome the support for small and medium-sized businesses. BVCA members invest throughout the United Kingdom, so the ambitious investment agenda is important, in particular to ensure the benefits of economic growth are shared across the whole country.
We welcome the announcements regarding further support for start-ups, venture capital and growth finance through the British Business Bank. Together with the commitment to life sciences and research, this will help maintain the UK’s global position as an innovation nation.
Whilst there are significant changes to it, it is also important that Entrepreneurs’ Relief remains in place. We look forward to discussing this and other developments in the Budget including the review of the UK funds regime, the Enterprise Management Incentive scheme, and the hybrid mismatch rules.”
For further information, please contact
Tom Allchorne, Director, Communications, BVCA
+44 (0)20 7492 0407
tallchorne@bvca.co.uk
Notes to Editors
The British Private Equity & Venture Capital Association (BVCA) is the industry body for the UK private equity and venture capital industry. The BVCA represents over 800 member firms, including more than 400 investment funds and institutional investors.