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| Business lending goals 'should be higher' |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Wednesday, 16 November 2011 00:00 |
 Greater levels of commitment from banks are needed if London recruitment agencies are to help stimulate economic growth following the recession.That is according to Andrew Cave of the Federation of Small Businesses (FSB), who is of the opinion that the bar for lending to such organisations has been set "massively too low". Mr Cave believes the Project Merlin pact agreed earlier this year by the government and the country's five largest banks was something of a "red herring" that failed to show the required amount of dedication needed at such a difficult time. The FSB official explained that 85 per cent of all activity in this arena is conducted by the five major banks, meaning there is also a lack of competition in the sector. Recently, David Kern of the British Chambers of Commerce called on the Bank of England to take action and improve business lending conditions. Posted by James Strang 
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