Budget 2000: New £1bn regional venture capital fund set up

The government will be supported by the European Investment Bank and the private sector.

The south-west will get £85m, the North West will get £120m, the north east and Yorkshire will get £130m, the Midlands will get £250m while London and the south-east will get £250m.

Scotland, Wales and Northern Ireland will have their own funds, Brown said.

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