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Does doing more of the same ever work?

Graham_Devon
Graham_Devon Posts: 58,560 Forumite
First Post First Anniversary Combo Breaker
in Debate House Prices & the Economy
Funding for Lending has been extended today for another year. It's also been made a little bit sweeter for banks, encouraging them further to lend more.

It didn't really work last time around (hence changing it!) so why do it all again?

Extending it to 2014 will have this scheme running 7 years after the crisis. Were still meddling, nothing has been fixed.

http://www.bbc.co.uk/news/business-22275344
«134

Comments

  • MacMickster
    MacMickster Posts: 3,639 Forumite
    Name Dropper First Anniversary First Post
    Neither Albert Einstein nor Franklin D Roosevelt would agree with this strategy.

    Boy George knows better though. ;)
    "When the people fear the government there is tyranny, when the government fears the people there is liberty." - Thomas Jefferson
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    First Post First Anniversary Combo Breaker
    Isn't it the BOE doing it, rather than the government?
  • grizzly1911
    grizzly1911 Posts: 9,965 Forumite
    Graham_Devon wrote: »
    Isn't it the BOE doing it, rather than the government?

    You haven't made the connection yet?
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    Graham_Devon wrote: »
    Extending it to 2014 will have this scheme running 7 years after the crisis. Were still meddling, nothing has been fixed.

    Hmmm, interesting play on words there Dev old boy.

    For clarity, this link shows that the scheme has been running for less than a year and has been extended for an additional year.

    http://www.bankofengland.co.uk/markets/Pages/FLS/default.aspx
    Funding for Lending Scheme
    The Bank and HM Treasury launched the Funding for Lending Scheme (FLS) on 13 July 2012.

    .....

    The Bank and HM Treasury announced an extension to the FLS on 24 April 2013. This extends the scheme by one year to allow participants to borrow from the FLS until January 2015, with incentives to boost lending skewed towards small and medium sized enterprises (SMEs). The FLS will also be expanded to count lending by banking groups involving certain non-bank providers of credit to the UK real economy.

    So surely this is not doing "more of the same" since 2007.
    Even the extension is being expanded to include additional areas.
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • grizzly1911
    grizzly1911 Posts: 9,965 Forumite
    From parcival over on the savings threads.

    It's been a great success - the economy is looking so much more healthy...........

    I am sure someone will be along top say it could have been much worse without it.

    Isn't window dressing for the markets and IMF?:think:
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    First Post First Anniversary Combo Breaker
    IveSeenTheLight wrote: »
    Hmmm, interesting play on words there Dev old boy.

    For clarity, this link shows that the scheme has been running for less than a year and has been extended for an additional year.

    http://www.bankofengland.co.uk/markets/Pages/FLS/default.aspx


    So surely this is not doing "more of the same" since 2007.
    Even the extension is being expanded to include additional areas.

    I never stated, or even suggested the scheme has been running for 7 years.

    What i said was this scheme will be running 7 years after the crisis.

    How come it's always you confused?
  • Mr._Pricklepants
    Mr._Pricklepants Posts: 1,311 Forumite
    Graham_Devon wrote: »

    How come it's always you confused?

    Be nice to fellow moneysavers.

    Your post was muddled, hence the confusion.

    The scheme is indeed a recent scheme and will be extended for a year.
    Furthermore, there will be more emphasis and incentive for lending to SME's as opposed to housing.
  • grizzly1911
    grizzly1911 Posts: 9,965 Forumite
    Mr._Pricklepants wrote: »

    The scheme is indeed a recent scheme and will be extended for a year.
    Furthermore, there will be more emphasis and incentive for lending to SME's as opposed to housing.


    What form of emphasis? Already being used for SMEs.

    Lloyds TSB Funding for Lending


    As part of Lloyds TSB’s participation in the Funding for Lending Scheme, we have reduced the interest rate by 1% on all approved business loan, commercial mortgage and hire purchase applications received after the 10th September 2012.

    Reducing the borrowing costs for small and medium-sized businesses is just one way we’re going further to help our customers, and Britain, prosper.


    http://www.lloydstsbbusiness.com/finance/fundingforlendingscheme.asp?WT.mc_id=43700003523575354&WT.srch=1
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    First Anniversary First Post Combo Breaker
    Graham_Devon wrote: »

    Extending it to 2014 will have this scheme running 7 years after the crisis. Were still meddling, nothing has been fixed.

    http://www.bbc.co.uk/news/business-22275344

    So it has been running a year and now being expanded, must have been seen as a success then.
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    Graham_Devon wrote: »
    I never stated, or even suggested the scheme has been running for 7 years.

    What i said was this scheme will be running 7 years after the crisis.

    How come it's always you confused?

    LOL, I'm not confused.
    I never said you daid it was running for 7 years.
    I even commented on your clever play on words.

    Care to explain how your title fits in with the FFL expansion story?
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
This discussion has been closed.
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