§ Mr. Malcolm Bruce
To ask the Chancellor of the Exchequer what publicly available literature has been produced to explain the venture capital trust proposals contained in the 1994 Budget.
§ Mr. Jack
[holding answer 12 December 1995]: A booklet was published in January this year containing detailed notes on the legislation proposed together with the legislation itself and explanatory press releases. This was preceded by a consultative document published in March 1993 and was followed by further press releases on 28 March, 29 June and 14 September 1995 about changes made on Report to the Finance Bill, the regulations and various statements of practice arising from the legislation respectively. A leaflet is being now market tested and finalised for issue early in the new year summarising the details of the scheme. Other literature has also been published by venture capitalists including the prospectuses of the venture capital trusts which have been launched.