UK Start-up Companies

Debate between Baroness Lloyd of Effra and Lord Clarke of Nottingham

Wednesday 28th January 2026 Lords Chamber

[Baroness Lloyd of Effra (Lab)]

I am happy to take away that question and consult with colleagues on it. The noble Lord is right that businesses of all sizes make up the huge vibrancy of our economy and we must think about the right intervention from government and the private sector to help them to grow.

[Lord Clarke of Nottingham (Con)]

My Lords, if the Government are as keen on entrepreneurship as the Minister keeps suggesting, why did the Chancellor in her last Budget reduce the tax relief for venture capital trusts, which I set up in my last Budget in 1997 precisely to encourage the kind of investment she is so enthusiastic about?

[Baroness Lloyd of Effra (Lab)]

I thank the noble Lord for his question. We expanded the eligibility for various schemes to support entrepreneurs and scale-up businesses such as the enterprise management incentives and the enterprise investment scheme. I will need to consult with Treasury colleagues specifically on venture capital trusts, because I believe that we increased the investment limits for venture capital trusts but the nature of his question suggests otherwise.