Taking risks and picking winners - vital ingredients for our future economic success.

1. Our aim is that everyone should have a "UK High Risk Account" (HRA) alongside their lower risk savings and investments. Investors should spread their HRA investments over time and should be able to choose from a broad range of qualifying funds (i.e. they pick the winners). Our future economic success depends upon a willingness to take calculated risks in support of innovative UK businesses.

2. Each qualifying fund will be used to finance a specific new business, or a project within a small or medium sized enterprise. It will not be possible to invest directly in larger UK companies, although these firms will be able to enter joint ventures with the participating enterprises.

3. For some classes of qualifying fund the government will impose an early-redemption penalty. Some other funds will be structured so that no capital will be returned or dividends paid until specified cumulative profit targets are met.

4. The High Risk Accounts will be structured so that people can make small or large investments in any qualifying fund at any time they like.

5. Main features

     - Similar level of convenience to playing the national lottery or placing a bet
     - Possibility of high rewards
     - Whole investment is at risk
     - Little or no scope for early withdrawal
     - Every investment associated with specific businesses or projects
     - Stimulates interest in business innovation and creating competitive advantage