Debate House Prices


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Cable tells banks to increase lending to small firms

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Comments

  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    so Project Merlin isn't working and is this correct?
    government is giving the banks a tax cut this year while thousands of police officers are being cut and families on low and middle incomes are being hit hard by the VAT rise.
  • ILW
    ILW Posts: 18,333 Forumite
    What tax cut is this?
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    ILW wrote: »
    What tax cut is this?
    i guess it's related to the bonus tax
  • chewmylegoff
    chewmylegoff Posts: 11,466 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    chucky wrote: »
    so Project Merlin isn't working and is this correct?

    quite possibly. it's also pretty clear that labour want the banks to increase lending to banks as much as the coalition do.

    it would be pretty odd if any of the main political parties didn't want the banks to lend money to small businesses, unless one of the main political parties had a stated policy of trying to shrink the economy of course.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    chucky wrote: »
    i guess it's related to the bonus tax

    But on the other hand banks are being taxed on wholesale funding they raise. Which in itself will increase the cost of borrowing.
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