Government-owned British Business Bank triples annual profit as valuations rise

Companies are facing changes to the way their tax bills work from the start of April (Alamy/PA) -

The Government-owned British Business Bank has revealed its annual profits have tripled after benefiting from a jump in the valuation of its investments.

The UK’s economic development bank, which lends money to and buys stakes in smaller UK businesses to help them start and grow, is also set to be boosted by supporting the Government’s industrial strategy.