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BVCA Budget submission: supporting recovery, growth and competitiveness by increasing business investment across the UK

Publish Date 14 Oct 2021
Categories Budget

It will be all-eyes on the Chancellor come 27 October, as Rishi Sunak is set to deliver the Autumn budget and reveal his plans for the economy and public expenditure for the forthcoming months. And it comes at a time when the government faces the significant challenge of balancing the public finances after the pandemic.

Ahead of budget day, the BVCA has written to the Chancellor recommending a number of proposals to increase investment to businesses of all shapes and sizes across the UK to help drive economic recovery and growth.

Our key proposals for the Budget include:

  • ‘Defined Contribution’ pensions: increase long term investment into innovative businesses and returns to pensioners through the recommendations of the Productive Finance Working Group.

  • British Business Bank: increased funding for the equity programmes and British Patient Capital to support regional investment, as well as new initiatives such as the life sciences programme and the National Security Strategic Investment Fund.

  • Tax system: ensure the UK’s tax system encourages reward and innovation for enterprise and investment.

  • Fund structure reform: enhance the stability and attractiveness of UK fund structures for private capital.

  • National Security & Investment Act: continued engagement with industry to ensure the new regime strikes the right balance between the protection of genuine areas of critical national security interest and additional review processes for investors.

  • ‘Private Capital Unit’: establish a cross-departmental unit to support the private capital and alternative assets industry, which would help ‘join the dots’ between regulatory, legal and tax policies and legislation to ensure they are fit for purpose for private capital and alternative assets.

Notes to editors
  1. For more information on any of the above, please contact the BVCA’s External Communications Manager, Will English, on wenglish@bvca.co.uk.

  2. 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, representing the majority of UK-based private equity and venture capital firms and their advisers.