Written question asked by Lord Foster of Bath (Liberal Democrat) on Tuesday, 11 June 2002, in the House of Commons. It was due for an answer on Tuesday, 2 July 2002. It was answered by Nigel Griffiths (Labour) on Tuesday, 2 July 2002 on behalf of the Department of Trade and Industry.

Dept of Trade and Industry

Question: To ask Mr Chancellor of the Exchequer, pursuant to his Answer of 7th May 2002, 385 c33W, on the Community Development Venture Capital Fund, if he will place in the Library (a) the criteria used for the tendering process and (b) a list of the companies who applied to administer the fund. - Inc ref to 2 July 2002, 388 c286W.

Answer: Mr. Don Foster: To ask the Chancellor of the Exchequer, pursuant to his answer of 7 May 2002, Official Report, column 33W, on the Community Development Venture Capital Fund, if he will place in the Library (a) the criteria used for the tendering process and (b) a list of the companies who applied to administer the fund. [61675] Nigel Griffiths: I have been asked to reply. The Community Development Venture Fund (CDVF) is not a Government administered or contracted out Fund, so (a) and (b) do not apply. I also refer the hon. Member to parliamentary question No. 61674 answered today. It is a private sector initiative led by Sir Ronald Cohen, in his pro bono role as chairman of the Social Investment Task Force. In order to ensure that public investment in the Fund represents good value for money in promoting the Government's objective of boosting entrepreneurial business in disadvantaged communities, agreement was negotiated based on its experience with the Regional Venture Capital Funds.

Secondary information