Commenting on the government’s announcement of £300m to boost SME lending, Dr Adam Marshall, Director of Policy at the British Chambers of Commerce, said:

“We welcome the government’s move to increase competition in SME finance by offering £300m to co-invest alongside the private sector.

“Vince Cable is right to say that the creation of a fully-fledged business bank is a long-term project.

“However, for the business bank to be a game-changer, it urgently requires both vision and scale. To that end, we continue to urge ministers and the Bank of England to ‘think bigger’ when it comes to the bank’s investment capital, to ensure the bank can operate independently of Whitehall, and allow to it to work directly with dynamic new and growing companies as soon as possible, and for the long term.”


Notes to editors:

The British Chambers of Commerce (BCC) sits at the heart of a powerful nationwide network of 53 Accredited Chambers of Commerce, serving over 104,000 businesses across the UK, which employ over five million people. For more information visit: www.britishchambers.org.uk

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