Bank Lending and Credit (Businesses)

Part of Chancellor of the Exchequer – in the House of Commons at 2:30 pm on 6th December 2011.

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Photo of George Osborne George Osborne The Chancellor of the Exchequer 2:30 pm, 6th December 2011

In the autumn statement, I announced the launch of measures to help improve the flow of credit to businesses. We expanded the enterprise finance guarantee scheme within the constraints of state aid rules, but that was not enough, so we have committed to a programme of credit easing as well, using the low interest rates at which the Government can borrow to help get low interest rates to businesses. The national loan guarantee scheme will lead to a reduction in the cost of bank loans for small businesses, while the business finance partnership will deliver additional finance for mid-sized business through non-bank lending channels.