Question to the HM Treasury:

To ask His Majesty's Government whether they plan to undertake an audit of the usefulness and results of the Enterprise Investment Scheme and the Venture Capital Trust scheme with regard to (1) their value for public money, sustained investment, employment and innovation, and (2) recommendations about the continuation and development of the schemes.

An evaluation of the venture capital schemes was undertaken in 2022. These were published on gov.uk 1.

The Government is committed to ensuring early-stage, innovative companies have access to the investment they need to grow and develop. These schemes provide a range of tax reliefs to encourage investment in higher-risk, early-stage companies which face the biggest challenges in accessing growth capital.

The Government legislated on 3 September to extend the UK venture capital tax relief sunset clause, from April 2025 to April 2035.

[1] Evaluation of Venture Capital Schemes - GOV.UK