Asked by: Anthony Browne (Conservative - South Cambridgeshire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the sunset clause stipulated in s. 261(3) (za) of the Income Tax Act 2007 (as amended by the Finance (No. 2) Act 2015 (c. 33), Sch. 6 para. 2(2)), whether his Department plans to extend income tax relief through venture capital trusts to subscriptions made on or after 6 April 2025.
Answered by Lucy Frazer - Secretary of State for Culture, Media and Sport
Venture Capital Trusts, which were introduced in 1995, are designed to encourage individuals to invest indirectly in a range of unquoted smaller, higher-risk, trading companies.
The Government keeps this scheme under review to ensure that it continues to meet its policy objectives in a way that is fair and effective.
Asked by: Anthony Browne (Conservative - South Cambridgeshire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps his Department is taking to increase the competitiveness of the financial services sector.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
In his Mansion House statement last July, the Chancellor set out the Government’s vision an open, competitive, green, and technologically advanced financial services.
A sweeping set of reforms to sharpen the UK’s competitive advantage in financial services is already underway; and in November the Government published the second consultation in its Future Regulatory Framework review, which provides a once in a generation opportunity to ensure that the UK maintains a coherent, agile, and internationally respected approach to financial services regulation.