The AIC has welcomed the government’s written statement and press release confirming the extension of the venture capital trust (VCT) scheme to 2035.
Richard Stone, Chief Executive of the Association of Investment Companies (AIC), said: “We welcome the new government’s swift action to extend the sunset clause for venture capital trusts until 2035. This puts the scheme on a firm footing for the next ten years, ensuring VCTs can continue to raise capital from individual investors to support early-stage companies across the UK. These young companies provide the rocket fuel for new technology advances, growth and job creation.
“It’s encouraging to see the government’s support for the role VCTs can play in helping deliver its ambitions for growth, investment and wealth creation. Next year the VCT scheme celebrates its 30th birthday, highlighting its long-standing value to the UK economy.”
