Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what steps he is taking to support employee share ownership in venture capital-backed startups.

Venture capital-backed startups will frequently offer shares in the business to employees, as part of their remuneration. Most of these startups will be eligible to use the Enterprise Management Incentives (EMI) scheme, which is open to firms with assets of £30 million or less and fewer than 250 employees. Using EMI firms may award share options up to a value of £250,000 in a 3-year period, free of Income Tax and National Insurance to the employee subject to certain conditions.