§ Jeff EnnisTo ask the Deputy Prime Minister what progress is being made in the take-up of the Coalfield Enterprise Fund, with particular reference to south Yorkshire. [184109]
§ Phil HopeThe Coalfields Enterprise Fund is a venture capital fund aimed at investing in small and medium-sized companies with growth potential in the former coalfields. The Deputy Prime Minster announced the Fund on 26 March this year.
The fund manager has embarked upon a comprehensive marketing and promotional programme to establish the fund across the former coalfield areas including south Yorkshire.
As at the 13 July 2004 the Fund Manager had received a total of 27 applications for investment, of which 12 are in the former Yorkshire coalfield areas. Of these, four have been rejected as not fulfilling the Fund's investment criteria and eight are receiving further consideration.