Budget Comment From Archangels

David Ovens’ response to Chancellor Philip Hammond’s measures designed to encourage patient capital investment, and announced in today’s Budget

“We welcome the spirit of the measures that Mr Hammond announced today, specifically an additional £2.5 billion fund to unlock investment in emerging businesses and doubling the investment limit for the Enterprise Investment Scheme (EIS) for knowledge intensive companies. We look forward to seeing the detail in his promised patient capital action plan.

“It is encouraging that the Chancellor has chosen to shine the spotlight in today’s Budget on the need for investment in innovative early stage companies. Today’s start-ups are the success stories of tomorrow and they require the support of government and investors if they are to succeed and become major employers and contributors to our economy.”


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