Start-up Loans

Mark Lazarowicz Excerpts
Wednesday 20th November 2013

(10 years, 5 months ago)

Commons Chamber
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Matt Hancock Portrait Matthew Hancock
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I pay tribute to Pink Addiction. My hon. Friend has put a huge amount of effort into supporting start-ups and small businesses. I am sure that being mentored by him would be one of the best ways in which someone could grow their business.

Mark Lazarowicz Portrait Mark Lazarowicz (Edinburgh North and Leith) (Lab/Co-op)
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The Minister told the House that there will be £151 million for the scheme this year and next year, but will he clarify whether that is new or additional funding, or is he simply announcing something that has already been announced? If it is new or additional funding, will he ensure that businesses in Scotland can benefit from the project either directly or with additional funding through a Barnett consequential to the Scottish Government?

Matt Hancock Portrait Matthew Hancock
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The £151 million is available over the next two years. Further details will be set out in the autumn statement. We are working with the Administration in Scotland to ensure that the scheme can be rolled out across Scotland as well.