Gordon Brown urges banks to keep lending
“Gordon Brown today called on the banks to keep lending to small businesses despite the global credit crunch.
The prime minister welcomed a commitment by the European Investment Bank to make £4bn available to provide finance to firms in the
Alistair Darling urges banks to use £4bn from European Investment Bank 30/10/08
“Alistair Darling today urged the banks to use a £4bn package of support from the European Investment Bank to help small and medium-sized businesses through the credit crunch.” [Guardian]
Card demand
“Gordon Brown yesterday demanded that lenders who provide store and credit cards must change their rules to make it more difficult to repossess homes. The prime minister's intervention came after Shelter warned that up to 5,000 homes repossessed last year - out of a total of 27,100 - were from people who took out "second-charge" loans. These can be people who take out a loan against their home to pay off cards. The Treasury wants the Finance and Leasing Association, which covers the £11bn "second-charge" market, to draw up a code of practice in line with that adopted by the Council of Mortgage Lenders, which stipulates that a lender should take a debtor to court to repossess a property only if they have exhausted other options.” [Guardian]
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