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Govt to unveil 50% tax relief for start-up investment

The Government is set to announce a 50 per cent tax relief rate for investors who contribute up to £100,000 into start-up businesses.

The Daily Telegraph reports that Prime Minister David Cameron, Chancellor George Osborne, and Business Secretary Vince Cable will unveil plans today to encourage more people to start up their own companies.

The Start Up Britain initiative will see sixty firms take part, with special offers and assistance worth up to £1,500 for each business.

It comes as 39 venture capitalists have written to the newspaper in support of the Chancellor’s decision to increase tax relief on investment in new business from 20 to 30 per cent, announced in the Budget last week.

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