A Letter from a Venture Capital firm to Our New Prime Minister Liz Truss
- On September 14, 2022
- By GrowthInvest Marketing
Congratulations on becoming Prime Minister… if you’re anything like me you’ll be unpacking those removal boxes for weeks, but I’m you sure you sensibly ensured the kettle and bottle opener were within easy reach!
With a war in Europe, energy prices continuing to soar, Covid continuing to hang around and the NHS in turmoil, I’m sure you have an inbox stacked high with items marked ‘urgent.’ However, as a Conservative leader I am sure that you also wish to send a message to the business community and our globally leading financial services sector.
So, I have a ‘quick win’ suggestion for you that will showcase your desire to support UK innovation, whilst empowering UK investors to support the high growth opportunities of tomorrow. The answer is extremely simple and will leave you with the time and focus to crack on with the considerable challenges you face elsewhere. Surely such a quick win is appealing so that you may stamp your mark with minimal fuss and maximum impact?
The UK is a world leader as a home to innovation, technology and life sciences. World class academia and an entrepreneurial appetite has created highly skilled jobs and innovations with the support of a robust funding ecosystem. We have a strong funding community in the UK but the Enterprise Investment Scheme (EIS) has arguably never been more critical. The EIS is internationally recognised as one of the most effective tax relief schemes; providing investors with an unparalleled mix of generous tax reliefs including income tax relief, capital gains tax deferral, CGT-free growth, IHT exemption and share loss relief.
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