Banks: Lending

House of Lords written question – answered on 11 October 2012.

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Photo of Lord Myners Lord Myners Labour

To ask Her Majesty's Government whether they will publish any letter reportedly sent to banks in the past two weeks by the Minister of State for Business and Enterprise urging them to increase their lending to United Kingdom small and medium-sized enterprises.

Photo of Lord Marland Lord Marland The Parliamentary Under-Secretary of State for Business, Innovation and Skills

My honourable friend the Minister of State for Business and Enterprise (Michael Fallon MP), wrote to the chief executive officers of the major banks on 20 September, to seek their commitment to increase lending to viable small and medium-sized enterprises under the enterprise finance guarantee scheme (EFG) scheme.

A copy of the letter has been placed in the Library of the House.

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