MP’s concern over lending

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A SOUTH Yorkshire Labour MP has quizzed the Business Secretary about banks’ lending performance to small and medium businesses.

Barnsley Central MP Dan Jarvis urged Vince Cable to pressurise state-owned banks to provide more help.

Dr Cable replied: “Of course we could have put more pressure on the two state owned banks but we chose not to.”

Mr Jarvis said after the debate: “I heard nothing from the Secretary of State to suggest that he is willing to show the urgency and change of direction which is needed to get the banks lending.

“In fact, we have seen that he is going to do the opposite and keep blundering his way through on the same failing policy.

“This is not by chance it’s by choice; they have made the conscious decision not to be tough on the banks. The government’s policy is strangling the recovery and restricting businesses ability to grow.”