§ Mr. RedwoodTo ask the Secretary of State for Trade and Industry when he sought clearance from the EU Commission for the Enterprise Fund; and when he expects to reach agreement with the EU Commission on it. [119311]
§ Mr. Byers[holding answer 17 April 2000]: The Enterprise Fund consists of a number of elements.
The existing Small Firms Loan Guarantee Scheme element of the Enterprise Fund continues to operate under "de minimis" arrangements, apart from in the agriculture and fisheries/aquaculture sectors, which have been separately notified and cleared. The "de minimis" arrangements allow for schemes that contain aid falling below a minimum threshold level to be accepted without State Aid notification.
With regard to the venture capital elements of the fund, my Department's officials are working with Commission officials to assist them in their development of a 435W framework for dealing with venture capital schemes on a community-wide basis. We expect this framework to be in place by summer 2000.
We expect the full amounts previously announced to be committed within this spending round.
§ Mr. RedwoodTo ask the Secretary of State for Trade and Industry when he announced the establishment of the Enterprise Fund; and when the first payments will be made from it. [119310]
§ Mr. Byers[holding answer 17 April 2000]: The Enterprise Fund was announced in the December 1998 Competitiveness White Paper (Cm 4176). Payments are already being made under the fund.
§ Mr. RedwoodTo ask the Secretary of State for Trade and Industry what changes the EU has asked for to his Department's scheme for an Enterprise Fund. [119312]
§ Mr. Byers[holding answer 17 April 2000]: The EU has not asked for any changes to be made to my Department's scheme for the Enterprise Fund.