New Businesses: Investment
The question
To ask the Chancellor of the Exchequer, what assessment he has been made of the risk of UK start-ups relocating overseas due to limited access to growth capital.
Answered by Treasury
It is the Government’s ambition that innovative UK companies can access the capital they need to start, scale and stay in the UK. At the Spending Review last year the government increased the British Business Bank’s total financial capital by two thirds to £25.6 billion, enabling the Bank to commit to supporting ten new-to-market growth-stage funds this Parliament.
The Bank is delivering against this commitment. We welcome the announcement that it will support a consortium of domestic pension schemes to raise a £1 billion growth-stage fund, potentially one of the largest raised in the UK.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →