VCTs write to chancellor Rishi Sunak setting out case of giving them longer to reinvest, while highlighting their success story

Venture Capital Trusts, investment funds aimed at fast-growing businesses, have asked Rishi Sunak to give them longer to reinvest profits. Currently venture capital trusts have to recycle capital returns within one year.

The Venture Capital Trust Association (VCTA), which represents 75 per cent of funds, would like to see that extended to three years.

David Hall, vice-chair of the VCTA, said: “Extending to three years would just keep the money in the system.”

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