News Headline Summary

UK is to invest GBP 1bln in a new state backed business bank aimed to support GBP 10bln in lending to smaller firms

- For more details on the story please see here: http://www.telegraph.co.uk/news/politics/liberaldemocrats/9561892/Cable-to-lend-small-firms-1-billion-from-taxpayers.html

Update details:

- There have been widespread complaints from small and medium-sized firms that banks are blocking access to finance and hindering their ability to expand.

- The new business bank – which will effectively fund new “challenger” banks and other financial institutions who will then lend to small firms – will form the centrepiece of the

- Government’s new economic regeneration plans to be set out in the autumn. Senior Coalition figures describe the emerging package as “plan A plus, plus”.

Print 23:02, 23 Sep 2012 - Asian News - Source: Newswires