Vince Cable has set out plans for a state bank that will bring billions of pounds of aid together in a “one stop shop” to help credit starved small businesses secure finance and address an over-reliance on high street banks.
The Business Bank will manage £2.9bn worth of existing Government debt and equity schemes designed to ease access to finance, and deploy a further £1bn to boost areas such as non-bank lending channels, the business secretary said.
“Inadequate access to finance for small and medium sized enterprises is one of the biggest risks to economic recovery. We need bold