25 October 2001

Risk Capital: Commission calls for timely implementation of Action Plan

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In a press release, the commission called for sustained effort to meet the 2003 deadline of the Risk Capital Action Plan (RCAP). In a mid-term review of the Action Plan it has just adopted, the commission notes that despite some progress in removing obstacles more needs to be done and proposals concerning e.g. securities markets legislation (including implementation of the recommendations of the Lamfalussy group) and removing tax obstacles should to adopted and implemented rapidly. The commission also warned member states that failure to meet the 2003 deadline for its Risk Capital Action Plan will further widen the gap between the European and US venture capital markets.

See also the latest commission communication on tax policy.

© European Commission