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Treasury

Answer

Mr. Love: To ask the Chancellor of the Exchequer what steps he is taking to sponsor investment and enterprise in deprived communities. [78258] Dawn Primarolo: The Government are committed to encouraging enterprise, investment and wealth creation across all regions in Britain. We believe that enterprise can make a valuable contribution to the regeneration of disadvantaged communities, and bring significant benefits to these communities, such as new sources of employment for local people. In order to ensure that our most disadvantaged communities share in the country's rising prosperity, we have introduced a range of measures to encourage investment and enterprise in these areas. These include the Community Investment Tax Credit, the Bridges Community Development Venture Fund, the Phoenix Fund, and the introduction of an exemption from stamp duty for most property transactions in the 2000 most disadvantaged areas of the UK. Many of the Government's other policies are contributing to the creation of an environment in which businesses can start and grow in disadvantaged areas, including policies to develop the skills of the workforce, help the unemployed into work and improve the planning regime.

Secondary information

Type

Written question

Reference

392 c742W;392 c770-1W; 78258

Session

2001-02

Question not reached

Yes

Subjects

Disadvantaged Community development Employment Investment Tax allowances Regeneration New businesses Community Development Venture Fund

Link

View this Written question on www.publications.parliament.uk