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Debate between Simon Hughes and Mark Spencer
Thursday 17th February 2011
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(13 years, 2 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Simon Hughes (Bermondsey and Old Southwark) (LD)
4. What recent progress he has made in his discussions with representatives of the banking industry on increasing levels of lending to small and medium-sized enterprises.
Mr Mark Spencer (Sherwood) (Con)
16. What recent progress he has made in his discussions with representatives of the banking industry on increasing levels of lending to small and medium-sized enterprises.
The Secretary of State for Business, Innovation and Skills (Vince Cable)
As announced last week in the House by the Chancellor, the UK’s five major banks have stated a capacity and willingness to lend £190 billion of new credit to business in 2011. That includes £76 billion of new lending to SMEs, which is a 15% increase on the amount lent in 2010. If demand exceeds that, the banks will lend more.