§ Mr. WigginTo ask the Secretary of State for Trade and Industry what recent representations she has received regarding the encouragement of venture capital in the UK. [71023]
§ Nigel GriffithsWe have received no recent representations regarding the encouragement of venture capital. However, the Government fully recognise the importance of the venture capital industry to the UK economy and, since coming to office, has taken a number of measures aimed at creating an economic environment in which it can flourish. We have also been working closely with venture capital firms on programmes such as Regional Venture Capital Funds, the UK High Technology Fund and the Community Development Venture Fund. This has involved regular contacts with representatives of the venture capital industry at both ministerial and official level.