MPC "urged" to support SME lending

MPC-urged-to-support-SME-lending.jpg

Small and medium-sized enterprises (SMEs) know better than most just how difficult it is to get a loan in the current financial climate.

The good news though, is that some major organisations are finally beginning to understand our plight and the British Chambers of Commerce (BCC) is the latest to try and convince the government to do more to support the growth of SMEs.

According to the BCC, the Bank of England’s Monetary Policy Committee (MPC) has a responsibility to improve business lending if the UK economy is to benefit from any growth – in fact it has told the financial organisation that this should be one of the top priorities in the coming months.

Chief economist David Kern said: “We urge the MPC to consider policy measures aimed at boosting business lending. This means purchasing more private sector assets including securitized SME loans rather than just gilts.”

Let’s hope they listen up and do something about it.

Posted by the Secret Businessman