£1.5 Billion Banking Fund for Small Businesses Planned
British banks are proposing to create a £1.5 billion fund to for small businesses in the wake of the government criticising a lack bank business lending.
The plan, termed the “business growth fund” will be invested over a number of years.
A joint statement by Chancellor George Osborne and Business Secretary Vince Cable called it an “important first step” by the banks.
They added: “We have been absolutely clear that banks need to improve the lending environment for small businesses.
“It is important that the banks now deliver on these plans.”
The government has accused banks of providing too few loans at too high a cost to small businesses since the financial crisis in 2008.
Banks have defended their position though, claiming lending is down due to there being a lesser demand for loans in the response to the weak economy.
Barclay’s chief executive John Varley said: “As banks we have an obligation to help the UK economy return to growth”
His appearance on a Channel 4 television programme about the inside workings of Revenue and Customs was watched by 4.1m which sealed his status as one of the most highly respected tax consultants to ever work in Scotland.
Ricky led all tax investigation and COP 9 cases, using his extensive knowledge to help people reach a positive resolution to their situation.
Ricky passed away suddenly and unexpectedly in June 2022 after leaving his indelible mark on the company he founded and headed for over 35 years.
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Ricky worked as an Investigator in the Inland Revenue for over 20 years before founding Steedman & Company in 1987, giving him the experience and knowledge that enabled him to help so many clients over the years.
His appearance on a Channel 4 television programme about the inside workings of Revenue and Customs was watched by 4.1m which sealed his status as one of the most highly respected tax consultants to ever work in Scotland.
Ricky led all tax investigation and COP 9 cases, using his extensive knowledge to help people reach a positive resolution to their situation.
Ricky passed away suddenly and unexpectedly in June 2022 after leaving his indelible mark on the company he founded and headed for over 35 years.
