Oral Answers to Questions
Debate between Peter Kyle and Sonia Kumar(1 week ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Sonia Kumar (Dudley) (Lab)
What steps is the Department taking to improve access to finance for UK start-ups seeking to scale up, given that only 1% of UK start-ups raise equity of more than £100 million? By comparison, in the US, 6% of start-ups do so. Furthermore, how can we ensure that women get a fair share of access to finance?
Peter Kyle
My hon. Friend asks exactly the right questions, which I am extremely grateful for, because they are central to the programme of economic reform that this Government are undertaking. She will know from the Mansion House reforms that we are unlocking capital into our economy via the pensions reforms being undertaken. We are making sure, right from the start, that women have a voice. I did the same in my role in the Department for Science, Innovation and Technology, and in this role, I will continue to ensure that women are championed right across the economy, that we get capital where it needs to be, and that we accept that we have brilliant businesses that need targeted intervention, which we will provide to make sure that scale-ups happen.