Taking place in just 13 days’ time, the UK’s investors and SMEs are casting their eye forward with keen interest to what the 2017 Spring Budget has in store for them.
As well as being a landmark event because it will be the last ever Spring Budget, the speech on Wednesday 8 March also takes on particular importance due to the political context. The policies and initiatives that emerge from Chancellor Philip Hammond’s iconic red briefcase will lay down the economic foundations for Britain’s forthcoming withdrawal from the European Union. And, following the Prime Minister’s delivery of the Modern Industrial Strategy in January, investment into private sector growth is set to be a focal point of the Chancellor’s speech.
The Government’s agenda has recalibrated around the UK’s entrepreneurial support system since the Brexit vote, with a directed objective to support scale-ups. A host of policy-backed initiatives that support growth enterprise – including the Patient Capital Review, the Bank Referral Scheme and the appointment of the nation’s first Scale-Up Champion, Margot James – have launched in the last six months alone.
The 2017 Spring Budget provides an ideal opportunity for the Government to further this cause. Specifically, the Conservatives can use this fiscal announcement to encourage the growth of venture capital investment in the UK, expanding business access to debt and equity finance. The Enterprise Investment Scheme has been a vital catalyst for SME investment, offering investor incentives in the form of tax reliefs – the progression of initiatives such as this is expected to feature on Chancellor Hammond’s agenda.
Upon the delivery of the Budget, IW Capital will be producing an overview of the key announcements and how they will impact the UK’s investors and SMEs. To receive this report, be sure to register as a member of Access 42, our exclusive members’ community. Alternatively, in the weeks leading up to the 2017 Spring Budget and the start of the new tax year, speak to a member of the IW Capital team on +44(0)20 7015 2250 to discuss how EIS can support your investment strategy.