James Moore: Funding for Lending flops, but firms still need help
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Outlook When it comes to getting finance into the hands of small business, the Funding for Lending scheme has been a flop.
The Bank of England might have made cheap money available, but it isn’t going anywhere, at least not now action has been taken to stop it from pumping hot air into London’s property bubble. Is this because banks can’t lend, because customers are either paying off their debts and seeking alternative sources of finance, or because they won’t? That has been the subject of much heated debate.
But it’s a discussion that is becoming increasingly irrelevant because the net effect is the same.
There is a consensus that ensuring small businesses can access finance is vital to their continued health and the continued health of the British economy.
So surely a better discussion to have now would be to ask how best to get the funds that are available into firms’ hands if the banks aren’t able to do so. Kindly send suggestions on postcards to The Bank at Threadneedle Street, London.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments