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First, I would like to update the House: unfortunately, my right hon. Friend the Minister for Energy and Clean Growth will be unable to join us this morning due to a family illness.
Our young people provide an invaluable contribution to the UK economy—they are more than twice as likely to be entrepreneurs as their peers in France and Germany—and we are supporting them. The start-up loans programme has provided over £60 million in loans to 18 to 24-year-olds since 2012. To further realise young entrepreneurs’ potential, I have asked the Prince’s Trust to lead a review to identify the barriers that they face.