News Burst: Brown's high-tech scheme
Published: 10 Nov 1999 11:16 GMT
Chancellor Gordon Brown is planning a slate of moves to strengthen UK investment in high-tech companies, according to his pre-Budget report Tuesday. The report, which aims to promote "enterprise for all, and fairness", includes tax concessions for employees acquiring up to £7,500 of shares a year in the companies they work for.
Cash-strapped high-tech startups often choose to supplement low wages with shares, which can become extremely valuable in the event of a successful stock market debut. The UK has been criticised as offering little to technology entrepreneurs, leading some UK businesses to seek funds from US investors.
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