Another Brexit blunder

[Paddy]

This was not budgeted for...

New UK venture capital funds face a huge cash shortage after Brexit
A major EU backer for funds has frozen activity as Brexit negotiations continue
Now fund managers want the Treasury to hand over £900 million to make up for the shortfall
One immediately negative outcome of the Brexit vote was that British venture capital investors, hugely important to the UK's thriving startup scene, suddenly lost access to a major source of EU funding.

The European Investment Fund froze new investments into UK funds because, it said, of the extra due diligence required during the Brexit negotiations.

The Treasury estimated that the EIF invests £900 million into UK funds each year.

Venture capitalists want £900 million from the Treasury after Brexit - Business Insider

[AtW]

Komrade Kolonel Korbyn will hand over £900 mln plus 50% capital gains tax.

You've heard it on here first...

[NigelJK]

I'd stop payments of the direct debit then, we're supposed to still be members. I'm sure that in weeks time we'd have what's necessary.

[Paddy]

I'd stop payments of the direct debit then, we're supposed to still be members. I'm sure that in weeks time we'd have what's necessary.

Ho can you expect continual funding from the EU to take place when the UK says it's leaving and not paying its bills?

[original PM]

This was not budgeted for...



Venture capitalists want £900 million from the Treasury after Brexit - Business Insider

Well venture capitalists make money from speculating on growth in a hope to get more money out than they put in.

The market changed and so their expected returns fell.

If they think this means someone else should pay then quite frankly they can fook off.

[SueEllen]

Well venture capitalists make money from speculating on growth in a hope to get more money out than they put in.

The market changed and so their expected returns fell.

If they think this means someone else should pay then quite frankly they can fook off.

They will sue us for it.

[tomtomagain]

900M!!

That's almost 3 weeks contributions to the EU budget.

We'll never afford that.

[NotAllThere]

The issue is not so much that funds management want that to come from the Treasurer now, rather that the European Investment Fund is no longer available for those investing in the UK. A major source of investment has been suspended.

Either the Treasury find another half-trillion - or the economy suffers hit due to sharp reduction in investment. Lose, lose either way. But as oPM says - they can all fook off. Full steam ahead and damn the torpedoes!

[NigelJK]

and not paying its bills

We are still paying the bill, until we exit, I'm suggesting we stop if they stop servicing us.