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Business Growth Fund

House of Lords written question – answered on 6th April 2011.

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Photo of Lord Myners Lord Myners Labour

To ask Her Majesty's Government whether there will be a Government representative on the board of the Business Growth Fund; and, if so, whether there have been any discussions with banks about such an appointment.

Photo of Baroness Wilcox Baroness Wilcox The Parliamentary Under-Secretary of State for Business, Innovation and Skills

The Business Growth Fund is a commercial fund with no financial input from the Government. It is therefore not appropriate for BIS to take a seat on the board. We will maintain strong links with the fund's senior managers to ensure that it fulfils our expectations of becoming a major source of growth capital funding for smaller businesses.

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