Written question asked by Stephen Timms (Labour) on Thursday, 13 January 2011, in the House of Commons. It was due for an answer on Monday, 17 January 2011. It was answered by Danny Alexander (Liberal Democrat) on Thursday, 20 January 2011 on behalf of the Treasury.

Technology

Question: To ask the Chancellor of the Exchequer what support his Department is providing to the Prime Minister's initiative to create a Tech City in East London.

Answer: The Treasury is leading a Growth Review, jointly with the Department for Business, Innovation and Skills, in order to create the conditions for economic growth and to improve the dynamism of the UK business environment. This will cover issues of importance to technology based companies including access to finance, better regulation and competition. In its first phase, the review is focusing on a number of sectors with a high technology content including advanced manufacturing, business and professional services, digital and creative industries, and healthcare and life sciences. A first report will be made by Budget 2011.

Secondary information