DARLING’S WARNING MUST NOT BE ANOTHER EMPTY LENDING LECTURE.

DARLING’S WARNING MUST NOT BE ANOTHER EMPTY LENDING LECTURE.


Commenting on the Chancellor of the Exchequer’s remarks that he will talk to the banks about cutting the costs of borrowing to small and medium sized businesses SNP Treasury Spokesperson, Stewart Hosie MP said:

“It is essential that the banks – many of them effectively publicly owned now – must start lending again to small and medium sized businesses.

“I am sure that every MP including myself has been approached by local businesses about not being able to access new and cheaper lending facilities or being offered extortionate rates.

“That has to end now and the Chancellor must follow through with action now. For months he has been making these warnings to the banks and we have not seen any concrete action.

“He has had months to sort this out and this time must follow through or lose what remaining confidence he has left with the business community.”