Measures to encourage early stage investing, greater clarity on the taxation of non-doms and lower corporation tax were all singled out for praise in a generally positive response to the Budget from the private equity community. The venture capital industry in particular praised measures to support start-ups announced by George Osborne this afternoon.

The main Budget provisions to affect private equity and venture capital concerned tax reliefs for Enterprise Investment Schemes and Venture Capital Trusts, non-domicile tax provisions, the proposed UK Green Investment Bank and general provisions affecting business like a reduction in corporation tax.