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Capital for Enterprise Ltd

My Rt. Hon Friend the Minister of State for Business and Enterprise (Michael Fallon) has made the following statement.

Mark Prisk (then Minister of State for Business and Enterprise) presented a Ministerial Written Statement to the House on 17 July 2012 which announced the Triennial review of Capital for Enterprise.

Since then the Secretary of State has announced the creation of a business bank which will bring together, review and rationalise existing government schemes aimed at supporting access to finance for businesses under a single organisation, in order to increase access to and awareness of these interventions. The review was therefore put on hold until it was clear how CfEL would fit with the business bank.

The Strategy Update “Building the Business Bank” which the Secretary of State published on the 21 March confirmed that the business bank organisation will bring together Capital for Enterprise Ltd, key policy teams in BIS and new expertise from the private sector.

Given that CfEL will not continue in its current form, I have decided not to complete the Triennial Review of Capital for Enterprise Limited.