Companies: Investment
The question
To ask the Secretary of State for Business and Trade, if he will make an assessment with the Chancellor of the Exchequer of the potential merits of creating a dedicated scale-up investment scheme.
Answered by Blair McDougall
The Chancellor and Secretary of State wrote on 20 October to the British Business Bank, setting the Bank’s strategic priorities over the next five years. These include an objective to “support our most promising businesses in the Industrial Strategy priority sectors to scale and stay here.”
The letter notes “Through a two-thirds increase in its annual investments, the Bank will crowd in tens of billions of pounds of private capital with a particular focus on ensuring that our most promising scale-up businesses can access the capital they need to realise their ambitions here in the UK.”
The full text is published at https://www.gov.uk/government/publications/statement-of-strategic-priorities-to-the-british-business-bank
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