Bank Lending

Part of Oral Answers to Questions — Business, Innovation and Skills – in the House of Commons at 9:30 am on 23 January 2014.

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Photo of Vincent Cable Vincent Cable The Secretary of State for Business, Innovation and Skills 9:30, 23 January 2014

The hon. Gentleman is quite right. Indeed, one of the more encouraging signs over the past year is that unconventional forms of lending, such as crowdfunding, are becoming increasingly common. The Government are supporting two of the main schemes that operate on a peer-to-peer lending basis. Lending is expanding very rapidly in that sector for the small and medium-sized companies that need it.