Vol. 424 No. 10
6 Mr. Noonan (Limerick East) asked the Minister for Finance if his attention has been drawn to the lack of venture capital for certain new manufacturing industries; if he will introduce proposals to amend the business expansion scheme in order to allow investors more scope to take up equity in such industries; and if he will make a statement on the matter.
52 Mr. Kavanagh asked the Minister for Finance if he has any proposals to reestablish the business enterprise scheme, albeit in a modified form in view of the package of measures to combat unemployment recently announced by the Government; and if he will make a statement on the matter.
I propose to take Questions Nos. 6 and 52 together.
The business expansion scheme, which was restructured in the 1991 Finance Act with a view to focusing the support it gives to equity investment on smaller, riskier companies in sectors with the capacity to generate sustainable output and jobs, remains in effect until 5 April 1993. I am satisfied that this refocusing has made the scheme a more cost-effective vehicle and will bear that in mind in considering whether an extension is warranted.
