Chancellor Philip Hammond has announced plans to double EIS investment limits for knowledge intensive companies, while as expected ensuring EIS vehicles are "not used as a shelter for low risk capital preservation schemes".
He said the government is publishing an action plan today to unlock over £20bn of new investment in UK knowledge-intensive, scale-up businesses. The Chancellor aims to do this through a new fund in the British Business Bank seeded with £2.5bn of public money. According to the Treasury in its response to the Patient Capital Review, the bank will float or sell this once the fund has established a sufficient track record. By co-investing with the private sector, a total of £7.5bn of investment will be supported. Knowledge-intensive businesses Hammond also intends to double the annu...
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