Government should promote private finance, not force banks to lend


Accountancy Age


THE GOVERNMENT’S FLAGSHIP lending scheme, Funding for Lending (FLS), released disappointing figures last week, showing that only a small proportion of the available funds had been drawn down. The big banks have been retrenching their lending to small businesses; this was seen in the 6% reduction of the approval rates of SME loans in Q4 of 2012. The plans expected for the Budget are mostly variations on a tired theme. Every day here…

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