BVCA Concerned about Increased Regulation and Taxation

London -- Vince O'Brien, chairman of the British Venture Capital
Association (BVCA), has warned the U.K. government that the
local venture-capital industry is not as robust as most people
believe. Speaking at the BVCA's annual Chairman's Dinner,
O'Brien said the industry was increasingly concerned about new
regulation and taxation. According to a recent survey, more than
half of the BVCA's members believe that regulatory burdens for the
local VC industry will worsen compared to those in other European
countries. "This is a highly mobile and flexible industry," O'Brien
said. "We are concerned that no sudden or gratuitous change in
our tax or regulatory environment drives key members of the
industry out of London and the U.K."
http://www.bvca.co.uk/