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Corporate Venturing Scheme

Volume 410: debated on Friday 19 September 2003

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To ask the Chancellor of the Exchequer what his latest estimate is of the costs of the Corporate Venturing Scheme announced in the March 2000 Budget for each year from 2000–01 to 2005–06; what assessment he has made of the economic effects of this scheme; and if he will make a statement. [130130]

The estimated cost of tax reliefs for the Corporate Venturing Scheme from 2000–01 to 2002–03 are:

£ million
Tax yearCost of Tax reliefs
1 Figures for more recent years are subject to revision, as more information becomes available.
With a long-term measure such as CVS the full effects on outcomes such as investment, productivity and output will not become apparent for a number of years, in the meantime we will continue to monitor activity and expenditure.