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In May 2014, the European Commission updated the EU State Aid Risk Capital Guidelines. As a consequence, the UK government has had to apply for renewed State Aid approval of venture capital schemes. The outcome came in the form of two Budget announcements this year. While the March Budget did propose various changes, the Summer Budget announced much stricter rules. It would appear that the changes in March didn’t go far enough for the EU and as a result, the Treasury has had to revise their suggestions to gain approval. The new rules are due to come into effect this… continue reading