Funding for Lending Scheme is turning into a ‘big disappointment', says TUC

date: 4 March 2013

embargo: For immediate release

Commenting on the latest figures on the Funding for Lending Scheme, published by the Bank of England today (Monday), TUC General Secretary Frances O'Grady said:

'The Funding for Lending Scheme is turning into a big disappointment. Net lending by participating banks tumbled £2.4bn in the most recent quarter. There are real questions about whether bank lending is going to the businesses who desperately need it, and whether some banks are simply using the scheme to improve their capital position.'

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