§ 25. Mr. Kidney
To ask the Secretary of State for Trade and Industry what arrangements he has made for managing and distributing the funds for regional venture capital and innovation. 
§ Mr. Byers
Arrangements are currently being put in place for the creation of Regional Venture Capital Funds with Government support based on bidding guidance published in December 1999. Lessons learned from this exercise will inform how the new money announced in the Budget will be managed in the English Regions.