Following the Treasury Committee’s Report on venture capital this week, Will Fraser-Allen, Managing Partner at Albion Capital, believes calls for swift clarification the April 2025 sunset clause to enable VCTs to continue driving much needed economic growth in the UK.
He said: “I am pleased to see that the Treasury Select Committee recognises the importance of the VCT and EIS schemes. In times of economic adversity, with the cost of borrowing on the rise, the support VCTs provide to British entrepreneurs is more important than ever. As such, it is crucial that policymakers are cognisant of the challenges faced by the VCT industry.
“For VCTs to continue supporting UK innovation, the industry requires urgent clarification on plans for the April 2025 sunset clause as the uncertainty is a risk to the businesses that VCTs support and those that invest in VCTs.
“A healthy and dynamic venture capital sector is an engine for growth and VCTs and EISs are a hugely important component of this, supplying much needed early-stage capital to UK entrepreneurs and helping fuel the next generation of British prosperity.”
