Scottish Parliament e-Brief
Issue 239, 29^th March 2005

SECTION 1 - BUSINESS THIS WEEK

Parliament is in recess.

SECTION 2 - NEWS

M74 link gets go ahead
Ministers will proceed with the M74 completion project, MSPs have been told.

A decision to give the go-ahead for the scheme was reached following the Public Local Inquiry which ended last year.

The new link connecting the existing motorway to south of Kingston Bridge will bring significant economic benefits to the west of Scotland, the Transport Minister said.  These include supporting local regeneration, improving quality of life for local communities, reducing congestion and improving the local environment.

The Public Local Inquiry Reporter recommended that the project should not proceed. However, Ministers concluded that the Reporter had not given enough weight to the positive aspects of the scheme as presented in evidence at the inquiry.

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New equity fund to help companies grow
A new equity fund to help Scotland's innovative companies grow has been announced by the Enterprise Minister. The Executive and Scottish Enterprise will each commit £20 million to the fund to help close the equity gap often faced by Scotland's innovative businesses.

The £40m contribution is intended to lever in additional capital from the private sector and other sources - to deliver a fund of significant scale.  The fund will build on the success of the £45 million Co-Investment Fund, which was launched two years ago and has supported a range of businesses requiring investment of up to £2 million.

The Scottish business community has told Ministers that the Co-Investment Fund has proved crucial in helping young, cutting edge companies develop and grow. Business demand has now been created for a new fund to focus on enterprises which require investment of £2million to £5 million to develop and grow.

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