Business, Innovation and Skills written question – answered at on 26 October 2010.
To ask the Secretary of State for Business, Innovation and Skills what recent discussions he has had with banks on lending to small and medium-sized businesses.
holding answer
I have had several discussions with banks recently regarding bank lending to small and medium-sized (SMEs) businesses.
As referred to in the Business Finance Green Paper, the major UK banks and the British Bankers Association (BBA) Taskforce has explored several issues affecting SMEs. I have met with the BBA Taskforce and as my hon. Friend may know the taskforce has now published its report 'Supporting UK Businesses' which sets out 17 actions designed to improve lending to small and medium-sized businesses by taskforce banks.
I recently chaired the first meeting of the Small Business Economic Forum which forms an important platform for bringing small business representatives and banks together on a regular basis to discuss bank lending alongside other business finance and economic issues facing small and medium-sized businesses.
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