(Thirsk and Malton)
(Con): I would like to put on record my thanks to the
British Business Bank, which has done a fantastic job in engaging
with the APPG over the last 18 months or so and a tremendous job
in helping to get that money out of the door. In terms of
releasing equity capital—the Minister talked about pensions,
which is a very good move by the Treasury—I think Octopus also
suggest we allow ISA investments into unquoted companies which,
again, could provide a source of equity finance for some of the
good, high-growth companies he was talking about. Would the
Minister consider having a discussion with the Treasury about
this?
The Parliamentary Under-Secretary of State for Business, Energy
and Industrial Strategy (): That is certainly
something the Economic Secretary to the Treasury will have heard
and will consider as we look to diversify finance, especially in
longer-term projects. We have established the productive finance
working group, which is an industry-led body, which has now
published recommendations setting out how we can unlock new
investment in those long-term assets. I am pleased to say the
Financial Conduct Authority has just published its rules for a
new long-term asset fund structure, which will make
accessing Illiquid assets
easier and encourage investors to look increasingly further
ahead...
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