Commenting on Lord Mandelson's proposal to establish a small business lending forum which will address the issues affecting small businesses and banks, Director General of the British Chambers of Commerce (BCC), David Frost, said:

"If its purpose is to hold banks to account and provide a supportive and worthwhile dialogue, then Lord Mandelson's announcement for a new small business lending forum is a good thing.

“But, if the group ends up around a table talking instead of showing real leadership and taking action, then it will be meaningless.

“It's the Government's job to ensure that this group has the teeth to really make an impact.”