BVCA response to the Budget 2021
Responding to today’s Budget, Michael Moore, Director General of the BVCA said:
“We support the priority and resolve the Government has given to tackling the health emergency. The economic damage caused by the pandemic is without parallel and therefore the optimistic but cautious tone struck by the Chancellor today is right and will encourage businesses to invest in turning around the economy.
“Our sector will deliver public value, supporting firms to weather the challenge of the pandemic, investing in levelling up across the UK, ensuring the global competitiveness of the UK and building the innovations and services to tackle climate change. Therefore, we welcome the announcements in the Budget focused on helping businesses to grow, including the Future Fund: Breakthrough, the consultation on accessing more pension funds’ investment and the review of the Enterprise Management Incentives and the Research & Development tax reliefs.
“Private equity and venture capital investments support almost a million jobs in small and medium sized businesses in the UK. Enabling further investment in growing and scaling businesses will supercharge the recovery and help to bring more people back into work.”
We will look closely at the detail of today’s Budget and the supporting documents published by the government, and we will provide members with detailed analysis in due course.
For further information, please contact
BVCA Policy Team
+44 (0)20 7492 0400
[email protected]
Notes
- The British Private Equity & Venture Capital Association (BVCA) is the industry body for the UK private equity and venture capital industry. The BVCA has over 750 member firms, including more than 450 fund managers and institutional investors.
