BusinessCorporate FinanceFSB urges govt to create ?1bn survival fund

FSB urges govt to create ?1bn survival fund

FSB is urging the government to create ?1bn survival fund as Darling and Mandelson plead with banks

While Alistair Darling and Lord Mandelson, the business secretary, is
pleading with Britain’s banks to lift lending to small business to last year’s
levels, the
Federation
of Small Business
(FSB) has wants the government to go further and create
£1bn Small Business Survival Fund.

FSB is suggesting part of the the funds should be provided by the European
Investment Bank, which has already earmarked £1bn for small UK business, but it
wants Brussels to drop the tight conditions tied to the money, the The Daily
Telegraph
reports.

The federation hopes to meet the chancellor and the banks next week after
discussing the package with Baroness Vadera, minister for competitiveness and
small business, and opposition parties.

FSB is also proposing big businesses which fail to honour their bills in time
to be named and shamed.

Further reading:

Read
The Daily Telegraph story

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