HC Deb 18 July 2001 vol 372 cc269-70W
Mr. Jim Cunningham

To ask the Secretary of State for Trade and Industry if she will make a statement on how the enterprise scholarship scheme will encourage British entrepreneurs abroad to establish companies in the United Kingdom. [3926]

Mr. Wilson

[holding answer 17 July 2001]: The recent White Paper on Enterprise, Skills and Innovation "Opportunity for all in a world of change" announced an enterprise scholarship scheme to attract the best young graduates from overseas, particularly in high-tech subjects, who want to come to the UK to develop their careers and start new businesses. The scheme will offer a tailored package of measures including postgraduate study in a business-related subject, work experience and help in starting up a business in the UK.

In addition British Trade International is working on a pilot scheme to encourage established overseas entrepreneurs to set up companies in the UK to pursue innovative business proposals. This pilot, which will target expatriate British and other entrepreneurs, is currently being developed in consultation with Development Agencies, the Small Business Service, DTI, F120 and other partners.

There is global competition for talent and it is the Government's aim to attract skilled and able entrepreneurs to the UK especially in areas where there is a short supply. These measures will support the creation of new jobs and prosperity in the UK and enhance our competitiveness in international markets.