Vince Cable, the business secretary, says that the suggestion to set up a new government funded bank to lend to SMEs, would not be effective in tackling the crisis those businesses face when trying to obtain credit.
New research suggests that the personal finances, and private lives, of a lot of small business owners are suffering because of the rising costs associated with running their own company.
Lord Oakeshott, the former Liberal Democrat Treasury spokesman has accused the UK banks of hindering the economic recovery by refusing finance to small enterprises and charging extravagant rates when they do.
Nearly 25% of the UK’s largest organisations will freeze executive salaries this year because shareholders will not tolerate high payouts, according to a new report from PwC.