Schedule 16 - Venture capital
Finance Bill
4:30 pm
Mr Howard Flight (Arundel and South Downs, Conservative)
I beg to move amendment No. 25, in page 169, line 20, after `(a)', insert `at least'.
The amendment raises a brief drafting point. As drafted, the schedule provides that a figure of 80 per cent. has to be invested during the first 12 months. I am sure that the Government mean not that it should be exactly, but at least, 80 per cent. It would clearly not be practical to achieve precisely 80 per cent.—hence the amendment. I hope that the Government support it.