Transcript of David Cameron and Lord Young’s meeting with entrepreneurs and advisers
The Prime Minister’s Office has published this verbatim transcript of a recent meeting between the PM and various members of the business angel community, and drawn attention to recent Government measures to encourage start-ups:
- “…increased the rate of income tax relief for the Enterprise Investment Scheme to 30 percent to encourage more equity investment in start-ups;
- doubled the investor limits to £1 million per year from this April;
- launched the new Seed Enterprise Investment Scheme, which provides 50 per cent rate of income tax relief for individuals who invest in new early stage businesses; and
- from April, for one year only, to kick start the scheme there will be a capital gains tax holiday, so gains can be re-invested into start-ups and be exempted from capital gains tax”.
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