Phi Wire Hand Picked Politics - Live

  • Margot James | How to keep older people out of A & E - and also improve their care

    • source icon
    • 07:33
    • ConservativeHome Platfo...

  • At the start of the Frank Bruce sculpture trail at Feshiebridge http://t.co/MSJk...

    • source icon
    • 13:57
    • http://t.co/MSJkvF81lz

  • Eric Pickles | we won't be stopped by stupid officialdom from flying our flags with pride http:...

    • source icon
    • 12:53
    • http://t.co/ekhKDq2jda

  • Nick Clegg's letter today " This is an open, diverse and generous nation" sums i...

    • source icon
    • 10:52
    • Olly Grender

  • Conservative Home | Unsexy perhaps, but deadly serious - the Coalition must not fail on infrastructu...

    • source icon
    • 09:05
    • ToryDiary

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

    • Sign up to see last 24 hours

PoliticsHome. All Todays Politics In One Place

Story Tracker

Select Story:

BoE launches Funding for Lending

BoE launches Funding for Lending
George Osborne has hailed a new Funding for Lending scheme announced by the Bank of England today. 

The move is aimed at boosting high street lending by giving banks conditional access to cheap funds.

Up to £80bn will be made available, contingent upon banks increasing lending to small businesses by at least 5%. Banks will be able to start drawing on the fund from the beginning of August.

Mr Osborne said the scheme would "make mortgages and loans cheaper and more easily available, providing welcome support to businesses that want to expand and families aspiring to own their home".

He added the scheme would "inject new confidence into our financial system and support the flow of credit to where it is needed in the real economy - showing that we are not powerless to act in the face of the eurozone debt storm".

The Chancellor was also clear that lending would only happen on "a very strict condition, that they lend it on to businesses".

Mervyn King, the Governor of the Bank of England, said: “This joint action by the Bank and the Treasury creates strong incentives for banks to expand their lending to the real economy.

"The more banks expand lending, the more they can use the scheme. That will encourage banks to make loans to families and businesses both cheaper and more easily available".

Related News

Green Box: BoE launches Funding for LendingClick to open

+ Expand all - Collapse all

Recommended External Links

Full access for £22 a month...

PoliticsHome PRO Find out more

Related PRO Content

Free Trial

Press Release

Bank of England and HM Treasury announce launch of Funding for Lending Scheme

13/07/2012

On air

George Osborne: Government help for banks based on strict conditions

13/07/2012 on Sky News

On air

David Gauke: Banks will get real incentives to increase lending

13/07/2012 on The World at One, BBC Radio 4

Press Release

Chris Leslie: We hope the new Bank of England scheme will be more successful than George Osborne’s failed Project Merlin

13/07/2012

Press Release

IEA: Taxpayers bearing risk from Funding for Lending Scheme

13/07/2012

Press Release

Treasury Select Committee will take evidence on ‘Funding for Lending’ scheme, says Tyrie

13/07/2012

Latest PRO Content

Free Trial

On Air

Summaries and transcripts from TV and radio

Stephen Timms: Anti-Muslim hate crime increase is not surprising

25/05/2013 on BBC News

Dominic Raab: Elect Parliament Bill committees to increase scrutiny

25/05/2013 on Week in Westminster, BBC Radio 4

Graham Allen: Parliament needs more post-legislative scrutiny

25/05/2013 on Week In Westminster, BBC Radio 4

See all On Air

Commons Reports

MPs pass equal marriage bill

21/05/2013

Transcript

Extracts of Nick Clegg speech on community cohesion

24/05/2013

See all Transcripts

Press Releases

Yvette Cooper: Some people are trying to use vile attack in Woolwich as excuse for more hatred and extremism; we must not let them

25/05/2013

See all Press Releases

Lobby Briefings

No 10: PM echoes Hunt comments on Nicholson

21/05/2013

See all Lobby Briefings