Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps she is taking to support Venture Capital Trust-backed technology businesses.

At Budget, the government announced a comprehensive package of measures designed to provide enhanced support for businesses seeking to start and scale in the UK. This included doubling the annual, lifetime and gross assets limits on investment which companies can receive through the Enterprise Investment Scheme and Venture Capital Trust scheme.

Overall, the changes we made are forecast to increase investment by around £100m per year into high-growth scaling companies, including those in the technology sector.