Future Fund (United Kingdom)
The Future Fund is a British government scheme to support companies during the COVID-19 pandemic. The scheme is administered by the British Business Bank.[1]
History[edit]
The Future Fund was announced by the Chancellor of the Exchequer, Rishi Sunak, on 20 April 2020, and opened for applications on the 20 May 2020.[2][3][4]
The scheme closed to new applications on 31 January 2021.[5]
Operations[edit]
As of 25 March 2021, the scheme had approved £1.20bn worth of convertible loans for 1,236 companies.[5]
The identities of companies involved in the scheme are not disclosed by the British Business Bank.[1]
Notable participants[edit]
Reception[edit]
Transparency[edit]
The decision not to disclose the identities of the companies involved has been criticised by some political commentators as lacking in transparency.[7][8]
Darren Jones, Chairman of the Business, Energy and Industrial Strategy Committee, also criticised the lack of clarity.[9]
See also[edit]
References[edit]
- ↑ 1.0 1.1 Thomas, Daniel (6 April 2021). "UK Treasury takes stake in hipster record label". Financial Times. Archived from the original on 15 April 2021. Retrieved 15 April 2021. Unknown parameter
|url-status=ignored (help) - ↑ "Government Future Fund to support innovative UK Companies announces Eligibility Criteria". British Business Bank. 18 May 2020. Archived from the original on 15 April 2021. Retrieved 15 April 2021. Unknown parameter
|url-status=ignored (help) - ↑ "Future Fund launches today". HM Treasury. 20 May 2020. Archived from the original on 15 April 2021. Retrieved 15 April 2021. Unknown parameter
|url-status=ignored (help) - ↑ Kennett, Dylan (20 April 2020). "The Future Fund: U.K. Government Tries Its Hand At Venture Capital". Forbes. Archived from the original on 15 April 2021. Retrieved 15 April 2021. Unknown parameter
|url-status=ignored (help) - ↑ 5.0 5.1 "Future Fund Approves £1.2 Billion of Convertible Loan Agreements". British Business Bank. 25 March 2021. Archived from the original on 15 April 2021. Retrieved 15 April 2021. Unknown parameter
|url-status=ignored (help) - ↑ "Assetz Capital completes £1.5 million funding round with Future Fund". Assetz Capital. 7 October 2020. Archived from the original on 15 April 2021. Retrieved 15 April 2021. Unknown parameter
|url-status=ignored (help) - ↑ Griffiths, Katherine (14 April 2021). "Taxpayers have a right to know what firms they're backing, good or bad". The Times. Archived from the original on 15 April 2021. Retrieved 15 April 2021. Unknown parameter
|url-status=ignored (help) - ↑ Thomas, Helen (5 April 2021). "Taxpayers should know more about UK's venture capital spree". Financial Times. Archived from the original on 15 April 2021. Retrieved 15 April 2021. Unknown parameter
|url-status=ignored (help) - ↑ Hurley, James (27 October 2020). "MPs attack lack of clarity on loans". The Times. Archived from the original on 27 October 2020. Retrieved 15 April 2021. Unknown parameter
|url-status=ignored (help)
External links[edit]
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