“Founders’ Relief" among string of measures introduced in Budget to encourage founders

The UK chancellor today unveiled a raft of measures to encourage entrepreneurs to build in Britain, including a “Founders’ Relief” for entrepreneurs, measures to encourage female founders, as well as making postive noises about encouraging more pension fund investment into UK startups. UK startups applaued the Budget, which also included fresh visa reforms to help startups pluck the best global talent, saying it was the “boldest action” backing UK startups and scaleups by the UK government in years. Chancellor John Healey today said: “The biggest barrier to fast growth firms here in Britain is investment in Britain.” He added: "Britain does not lack great entrepreneurs. Too often, we invent technologies the world wants here in the UK and see the jobs and profits go somewhere else.” Measures announced by the chancellor today to help UK startups and scaleups included “Founders’ Relief", a new Capital Gains Tax (CGT) relief for founders and significant early investors in UK startups.