Osborne pledges ‘boost’ for firms with FLS shake-up
The Funding for Lending scheme (FLS), which launched last year in a bid to ease the flow of credit to cash-strapped businesses and households, has been criticised for failing to increase lending to small firms, but the Chancellor insisted his plans would give “a big boost for the small and medium-sized businesses that are at the heart of the British economy”.
Official figures show that net lending to businesses shrank by £2.8 billion in February, following a £300 million contraction the previous month, putting pressure on the Bank of England and Treasury to revamp the FLS.
Advertisement
Hide AdAdvertisement
Hide Ad