asked the Chancellor of the Exchequer whether, further to his Budget statement on 19 March, he has any more up-to-date information about investment under the business expansion scheme.
We now know that 605 companies between them raised £100 million under the Scheme in 1983–84, and in the final results are expected to show a further slight increase on this. Nearly 60 per cent. of the total amount invested went to young and very young startup companies, and about half of the companies invested in each raised £50,000 or less. Direct investment accounted for about 60 per cent. of the total amount invested, and investment via the approved funds for the rest.Overall results for 1984–85 are not yet available. But we know that investment via the approved funds amounted to some £46 million (£7 million more than in 1983–84) and it is thought that direct investment was probably at least as much as this.