Venture capital market inquiry launched
28 April 2022
The Treasury Committee explores the state of the UK’s venture capital industry, including the ability of firms to source financing to scale up, the extent to which start-ups and established industry cooperate, and the effectiveness of tax incentives.
The Committee also considers the regulation around venture capital, the role of key bodies such as the British Business Bank and the Advanced Research and Invention Agency, and how the UK industry can be strengthened.
The inquiry comes as the Government works on its “levelling up” agenda, to achieve carbon net zero, and to maintain and enhance the UK’s status as a science and technology “superpower”.
The Committee requests written evidence submissions from stakeholders, academics and those working in the industry. It will hold oral evidence sessions and is likely to produce a report on its findings.
Commenting on the new inquiry, Rt. Hon. Mel Stride MP, Chair of the Treasury Committee, said:
“Venture capital has a key role in ensuring innovative UK firms prosper, and we want to make sure the market is working well.
“The Government’s plan to enable the UK to continue advancing the frontiers of science and technology, as well as its ambitions on net zero and levelling up, will all be boosted if businesses are able to finance their work to achieve international success.
“As a Committee, we’ll be seeking to establish if investors have the best environment to back new or growing UK firms, and would welcome in particular evidence on what lessons can be learnt from other parts of the world.”
The new inquiry will sit alongside the Committee’s existing work on topics including Jobs, Growth and Productivity after Coronavirus, the Future of Financial Services, and Russia: effective economic sanctions.