Small Businesses
3rd November 2009
David Gauke raises his concerns at last month's record fall in bank lending to small businesses - in particular a 40% drop in lending to manufacturing firms.
Mr. David Gauke (South-West Hertfordshire) (Con): Last month we saw a record fall in bank lending to smaller businesses, with a 40 per cent. drop in lending to manufacturing firms. The CBI and members of the Monetary Policy Committee have highlighted lack of credit as a major impairment to the recovery, but at lunchtime today Lord Myners told “The World at One” that there was
Does the Minister agree with the noble Lord, or does he live in the real world?
Mr. Timms: I agree with the Federation of Small Businesses and others who have reported that credit conditions are improving. That is a welcome development. However, I can tell the hon. Gentleman that we will continue to give real help to businesses and reject calls from Opposition Members to let the recession take its course.
