ENTERPRISE UK CHIEF EXECUTIVE RESPONDS TO THE COMPREHENSIVE SPENDING REVIEW WITH A CALL TO BOLSTER THE UK’S STARTUP TALENT
Private sector faces real challenges from severe cuts
By Claire West The [b]Comprehensive Spending Review[/b], launched today by Chancellor George Osborne, contains the deepest cuts in public spending in living memory, with the majority of government departments expected to make substantial efficiency savings over the next four years. Government departments are now being asked to deliver enormous efficiency and administration... read more
UK facing severe cuts, but tax increases inevitable
Commenting on the report from the Banks' Business Finance Taskforce Miles Templeman, Director-General of the Institute of Directors said: “The Taskforce’s report sets out a number of welcome improvements to the service banks offer to small businesses. The IoD particularly welcomes the creation of a £1.5bn Business Growth Fund and the banking community’s desire to work with all business organisations on the development of a network of business mentors.
Currency UK Condemns Cowboy Exchange Operators
There is outstanding structured-term lending of over £45bn for more than half a million small businesses in the UK. In addition, their overdraft borrowing stands at £8bn.
Banks borrowing requirement set to double next year to £25 billion a month to plug funding gap.
Banks have closed up and are still not lending
Coming out of a recession is a financially risky time