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Treasury

Answer

Mrs. Curtis-Thomas: To ask the Chancellor of the Exchequer what recent steps have been taken by the Government to remove obstacles to, and raise the levels of, enterprise and investment in the UK's most disadvantaged areas. [124218] John Healey: The Government's approach to raising levels of enterprise throughout the UK, and specifically in disadvantaged areas, is described in detail in "Enterprise Britain: a modern approach to meeting the enterprise challenge", published alongside the 2002 pre- Budget report, and in the appendix to the recently published "Productivity in the UK 4: the local dimension". A range of specific measures are now being focused on approximately 2,000 enterprise areas--the most deprived communities across the UK. Specific measures that will help to raise levels of enterprise and investment in these areas include: an exemption from stamp duty for all non-residential property transactions, and for residential property transactions of up to £150,000; the provision of £16 million over two years to fund Enterprise Advisers in around 1,000 secondary schools in deprived areas; community investment tax relief, enabling accredited community development finance institutions to raise new capital for investment in disadvantaged areas; and the £40 million Bridges Community Development Venture Fund, backed by a £20 million Government investment.

Secondary information

Type

Written question

Reference

124218; 408 c870-1W;408 c868-9W

Session

2002-03

Subjects

Disadvantaged Finance Investment Productivity Trade competitiveness

Link

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