Welcome Boost To Sme Lending, But Ministers Should 'think Big' Over Business Bank, Says Bcc
09 April 2013 in Chamber News
Commenting on the government’s announcement of £300m to boost SME lending, Dr Adam Marshall, Director of Policy at the British Chambers of Commerce, said:
“We welcome the government’s move to increase competition in SME finance by offering £300m to co-invest alongside the private sector.
“Vince Cable is right to say that the creation of a fully-fledged business bank is a long-term project.
“However, for the business bank to be a game-changer, it urgently requires both vision and scale. To that end, we continue to urge ministers and the Bank of England to ‘think bigger’ when it comes to the bank’s investment capital, to ensure the bank can operate independently of Whitehall, and allow to it to work directly with dynamic new and growing companies as soon as possible, and for the long term.”