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

We hope to get the scheme up and running early in the new year. We have to get state aid clearance, which is the rule that we and every other member state of the European Union have to abide by, but by following the European Investment Bank scheme quite closely, which of course is permissible, we hope to get that state aid clearance as quickly as possible and get the scheme up and running early in the new year. I do not need to be reminded of the urgency of getting help to smaller businesses, particularly as bank credit conditions tighten.