To ask the Chancellor of the Exchequer, how much investment support had been allocated via the Future Fund to businesses in (a) London and the South East, (b) Scotland, (c) Wales and (d) Northern Ireland by 30 June 2021.
19 July 2021
The British Business Bank have published final Future Fund data, including the breakdown of funding by region and is available on their website here: https://www.british-business-bank.co.uk/final-future-fund-final-data-shows-scheme-completed-1-14bn-of-convertible-loan-agreements/
The Future Fund used a set of standard terms with published eligibility criteria, independent of ministers. This was a clear, efficient way to make funding available as widely and as possible, irrespective of location. This means that the proportions allocated to different regions and nations of the UK have followed wider-VC funding trends that exist in the market.
As of the 30th June the final amount of investment support allocated to the following areas are:
a) London and the South east: £798.7m
b) Scotland: £8.3m
c) Wales: £18.7m
d) Northern Ireland: £11.6m