02/09/12

Responding to the Chancellor's comments on BBC1's Andrew Marr Show, where he indicated a live interest in the creation of a business bank, John Longworth, Director General of the British Chambers of Commerce (BCC), said:

"We are heartened that the Chancellor and his colleagues are actively considering our long-standing proposal for a British Business Bank. This institution, which would sit alongside commercial banks and help fund new and growing businesses across the UK, would be a game-changer for long term growth.

"Given the growing consensus on the need for a Business Bank across the political spectrum, the Prime Minister should use his upcoming reshuffle to appoint a minister to spearhead the bank's creation by the end of this parliament, and involve the opposition actively in the start-up process.

"The creation of a business bank won't have an instant impact, but it will underpin future jobs, investment and confidence, and create a decisive legacy for this government."

Ends

Notes to editors:

Contact the press office for a full copy of the economic forecast.

The British Chambers of Commerce (BCC) is the national voice of local business.

The BCC sits at the heart of a powerful nationwide network of Accredited Chambers of Commerce, serving over 100,000 businesses across the UK, which employ over five million people. For more information visit: www.britishchambers.org.uk

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Liz Larvin
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Lisa Morrison
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M: +44 [0]7717682221
l.morrison@britishchambers.org.uk