The UK government has unveiled a comprehensive set of new economic policies aimed at boosting startup growth and scaling. Key changes include capital gains tax adjustments, updated work visa schemes, and enhanced allowances for young entrepreneurs. Chancellor Jeremy Hunt presented a £53.3 billion fiscal package that includes a £432 million fund for innovation and a £455 million initiative targeting regional development. The budget also introduces a new 'seed enterprise investment scheme' with an 80% income tax relief for investors.
Additionally, the government plans to expand the 'innovative finance' landscape with £972 million allocated to the British Business Bank, supporting access to funding for high-growth firms.
Source: Sifted · Summarized by HeadlinesBriefing