Banks: Small and Medium-sized Enterprises

Lord Flight Excerpts

Wednesday 12th March 2014 Lords Chamber

[Lord Popat]

My Lords, equity funding is within the government department and is currently being consolidated with the British Business Bank, which will obviously be regulated in its equity funding. So will the FCA.

[Lord Flight (Con)]

My Lords, is the Minister aware of the growing volume of funds being raised under the EIS scheme, which roughly doubled in 2011-12 and look as if they will double again when the figures come through for 2012-13? The Government made improvements to the scheme on coming into office, but it has prospered through both Labour and Conservative Administrations and is now a key source of equity money for small businesses.