Bank arm twisting is required- not Government loan underwriting
I’m not surprised the Chancellor and PM are exasperated with the banks’ apparent reluctance to lend money to consumers and businesses at reasonable rates.
Let’s face it though, banks got some real stick for lending money irresponsibly during the “good times”, and now, when bank managers are seeing a stream of businesses looking for finance to see them through , in many cases , lossmaking times, they sure as hell don’t want to be criticised for irresponsible lending in “bad times”. Mind you, talk of the government stepping in to underwrite bank loans to small businesses is not something I’d applaud; surely, that would be like giving the green light to the banks to dish out money to bad credit risks; if all turns out OK, the bank wins….. and if things go pearshaped……….. the bank wins again as the government will step in to foot the bill (with taxpayers money).
No, the government has to take all other steps to ensure we get back to some normality vis a vis bank lending, including threats of legal action if money doesn’t start flowing again to those that need it.
More about:
The numbers you crunch tell a story. Your expertis...
15yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleIt is with great sadness that we announce that Martin Williams has sadly passed away. Accountancy Age staff would like to extend their deepest sympath...
View articleCredit inspectors should act on tardy payers, says Martin Williams Read More...
View articleManufacturing and services industries need to step up the pace as high street spending slumps Read More...
View articleSMEs will also find it hard recouping payment from big clients - but there are ways to improve the situation Read More...
View articleMartin Williams bemoans government procrastination in appointing a grocery adjudicator Read More...
View articleThank goodness the EU Council is blocking proposals to lower accounts filing limits, says Martin Williams Read More...
View articleMartin Williams attempts to explain why insolvency stats are muted - and why they could stay that way Read More...
View articleThe Police finally taking fraud seriously, says Martin Williams Read More...
View article