Phoenix Fund

Trade and Industry written question – answered on 12th February 2004.

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Photo of Stephen O'Brien Stephen O'Brien Shadow Secretary of State for Business, Innovation and Skills, Shadow Secretary of State for Industry

To ask the Secretary of State for Trade and Industry how many applications for Phoenix funds have been (a) submitted and (b) accepted for each nation in the UK since its inception; and if she will make a statement.

Photo of Nigel Griffiths Nigel Griffiths Parliamentary Under-Secretary, Department of Trade and Industry

Information for the Phoenix Fund is as follows:

Country Applications received Applications accepted
England 945 236
Northern Ireland 1 1
Scotland 1 1
Wales 0 0

The Government have allocated resources to promote enterprise in disadvantaged areas and under-represented groups. In England, that allocation has been designated as the Phoenix Fund. The devolved Administrations, who have responsibility for business support in their own countries, have made separate arrangements for using their allocations. However, for reasons of economy of scale and to ensure consistency with other existing provision, a limited number of elements of the Phoenix Fund provision to support Community Development Finance Institutions (CDFIs) apply across the whole of the UK.

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