British bank chiefs defend lack of lending worries

Six UK bank bosses are to form a taskforce designed to help get lending to businesses back on track.
The British Bankers’ Association boss Stephen Green outlined the plans in a letter to chancellor George Osborne.

He said there was a “need to make sure that viable businesses are able to obtain the finance they need to support the recovery of the UK economy”.

It would also examine other issues that would “influence the ability of UK businesses to obtain the finance they need to support private sector growth”, he added.

Mr Green said it was essential that credit was available to viable businesses and to help aid economic recovery.

The taskforce will also include members from the Treasury, BIS and the Bank of England, Mr Green said.

“We, like you, believe there is a real need to make sure that viable businesses are able to obtain the finance they need to support the recovery of the UK economy,” his letter said.

Its findings will be presented to Mr Osborne in October.

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