CBI responds to Mansion House announcements on liquidity and 'Funding for Lending'
The CBI responded to the Chancellor and Governor of the Bank of England’s Mansion House speeches where they outlined action on liquidity and a ‘Funding for Lending’ scheme.
John Cridland, CBI Director-General, said:
“The Bank of England’s action on liquidity is a sensible pre-emptive move and will provide new liquidity to banks at a time of greater Eurozone related turbulence in the financial markets.
“The new ‘Funding for Lending’ scheme will need to be practical for banks to participate, offer lower funding costs than found on the markets and most importantly, be easily accessible to small and medium-sized businesses who will be the backbone of our future economic recovery.”
Notes to Editors:
The CBI is the UK's leading business organisation, speaking for some 240,000 businesses that together employ around a third of the private sector workforce. With offices across the UK as well as representation in Brussels, Washington, Beijing and Delhi the CBI communicates the British business voice around the world.