The 2025 Budget is a "Scale-Up" dream but an "Early-Stage" reality check, delivering major wins for deep tech and hiring (EMI expansion) while squeezing founders with higher fixed costs and tougher exit taxes. While the government claims to back builders, the operational reality for pre-seed startups is harder than ever, risking a disconnect between policy ambition and grassroots survival. We’re launching a founder-led coalition to fix this - join us to draft the Startup Blueprint for Growth before the February tax deadline.