Community Development Finance Institutions
(asked on 11th December 2017) - View Source
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what steps he is taking to encourage the growth of community development finance initiatives; and if he will make a statement.
This question was answered on 14th December 2017
The government provides support for Community Development Finance Institutions (CDFIs) through Community Investment Tax Relief (CITR). CITR encourages investment in disadvantaged communities by giving tax relief to investors who back businesses and other enterprises in less advantaged areas by investing in accredited CDFIs. The tax relief is available to individuals and companies and is worth up to 25% of the value of the investment in the CDFI.