Monday, 27 July 2009

Darling Meets Banks For Talks Over Lending Levels

Alastair Darling, nominally Chancellor of the Exchequer - courtesy of Gordon Brown, is having talks with some of the major banks over the levels of lending to small businesses.

Angela Knight, Chief Executive of the British Bankers' Association (BBA) said "the banks could not lend at 0.5% because they had to pay much more than that for the funds they themselves borrowed in the wholesale money markets." adding "and that some business plans did not stand up to scrutiny.."

How ironic it is that the Government's business plan does not stand up to scrutiny - as demonstrated on many occasions by Burning Our Money, of which this is but one example.

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