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Friday March 3, 2017
Next Wednesday, Chancellor Philip Hammond will deliver the UK’s final Spring Budget. In his first major policy announcement since the 2016 Autumn Statement, Wednesday’s event will provide further insight into how the Government plans to manage the UK’s withdrawal from the EU. Based on what was featured in the Modern Industrial Strategy green paper, this is likely to include targeted measures to support private sector productivity for both scale-up and leap companies.
Ahead of this major fiscal announcement, research from our Shareholder Sentiment Index 2017 revealed the widespread feelings of discontent experienced by the nation’s community of private company shareholders. In light of our findings, significant importance is placed on the Government’s intentions to introduce further support for this vital community of investors.
This week, our Co-CEO Stuart Lucas was featured in City A.M. calling for the Government to abolish Stamp Duty on all share transactions made by private investors. In 2014 the first steps were taken to achieving this, but only transactions on the Alternative Investment Market and High Growth Segment of the Main Market were made exempt from this tax – now the onus is on the Chancellor to go further, and remove Stamp Duty taxes on private company share transactions involving all high-growth businesses. Discussing the long-term implications of this tax on private business growth, Stuart stated: “The added cost of Stamp Duty imposes significant implications upon the ability to recycle locked-in cash, providing an unnecessary impediment to growth.” You can read the full article here.
Immediately following Chancellor Hammond’s speech, Asset Match will be releasing its 2017 Spring Budget factsheet – highlighting the key policy reforms affecting investors, private businesses and shareholders, and what this means for the future of private equity in the UK.
In the interim, speak to a member of the team on +44 (0)207 248 2788, or email firstname.lastname@example.org, to find out what the 2017 Spring Budget could mean for your investment strategy.