Oral Answers to Questions

Lauren Edwards Excerpts

Thursday 13th March 2025 Commons Chamber

[Mr Douglas Alexander]

I happen to be meeting the Philippine Government next week, although alas in London, not in Manila. The Department is working hard to agree a Government-to-Government financing framework partnership. That is just part of the work we have under way. If I can be of direct assistance to my hon. Friend and to her local business, I will of course be happy to speak to her.

[Lauren Edwards (Rochester and Strood) (Lab)]

The invest in women taskforce aims to drive investment in female-powered businesses at every stage. That includes putting more money in the hands of female investors, as we know that women back women. Does the Minister agree that one solution to tackling the gender disparity in investment decision-making roles is to set a minimum level of female representation for all investment committees that receive British Business Bank funding?

[Justin Madders]

My hon. Friend is absolutely right. There is a strong correlation between the proportion of women on an investment committee and the proportion of female founders receiving investment. My Department leads on the investing in women code, whose 270 signatories commit to supporting female entrepreneurship. One of the key metrics we check is the gender balance on investment committees and investment teams. I am pleased to say that the code signatories significantly outperform the wider market in their support for female founders. Investment funds backed by the British Business Bank are expected to sign up to the code and the bank itself is a signatory.