Pierrakis, Yannis and Westlake, Stian (2009) Reshaping the UK economy: the role of public investment in financing growth. (Project Report) London, U.K. : NESTA. 32 p. ISBN 9781848750463
Abstract
High-growth, entrepreneurial businesses are essential to the UK’s emergence from recession. But their success is dependent on several factors, one of which is the availability of appropriate finance. The availability of growth finance has declined drastically in the credit crunch, and too little has been done to revive it. It will be impossible to transform and rehabilitate the UK’s economy without an equivalent change in our sources of capital.This shortage will not resolve itself. If left unchecked, it will undermine the innovative sectors on which the long-term growth of the UK’s economy depends. Government has an important role to play. Although there have been a large number of failed attempts by governments to stimulate the financing of high-growth businesses, there have also been notable success stories. By drawing out the principles of these examples, this paper sets out a proposal that offers a timely, efficient and smart way for the Government to support and stimulate investment in high-growth companies.
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