Oral Answers to Questions

George Freeman Excerpts

Thursday 18th November 2010 Commons Chamber

[Mr Prisk]

I agree with my hon. Friend. Let me make it very clear again that when right hon. and hon. Members find unreasonable behaviour from the banks, they should ensure that it is raised with them and they should copy me in. When we find that evidence, we will challenge the banks vigorously.

[George Freeman (Mid Norfolk) (Con)]

As I know the Minister is aware, the highest of the high-technology growth businesses tend to rely for their early-stage finance not on banks but on early-stage investors, angels and family. Will he agree to make representations to the Treasury to look at anything we can do to incentivise such sources of finance?

[Mr Prisk]

I and my Treasury colleagues are already looking at how to improve business angel finance, not least at how the enterprise investment scheme works. We are also looking to extend a further £200 million in equity funds to the capital enterprise fund.