Showing results for tags 'vince'.
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
Bosses preside over 'moral quagmire', says business secretary, as Barclays chief Bob Diamond is summoned to face MPs. Vince Cable has urged shareholders in UK banks to rise up and purge their companies of corrupt executives, who he says have allowed "systemic abuse" to take root in the banking system. The business secretary, writing in the Observer, says it is now clear that no one at Barclays Capital, the investment bank that triggered the market-rigging scandal, is prepared to take responsibility for endemic corruption, so the ultimate owners of banks must take matters into their own ha