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Lending to UK businesses drops sharply in April

As reported in the Daily Telegraph

We agree with this

But the Government’s flagship ‘Funding for Letting Lending scheme is pouring money into Buy2Let so all is well.

Who needs industry and commerce when you have forever rising house prices? Silly Germans with their hi-tech production!

and

George Osborne might step in and help..oh hang on. The BoE already has a massive lending scheme so bank lend to businesses. The money is gone…all hoarded by the banks to shore up capital.

Once again tax payers taken to the cleaners. Meanwhile in related news, if you are a criminal HSBC has a special programme for you!

and

This is not at all surprising. Businesses have had a belly full of banks.

Whether having their borrowing facilities pulled or interest rates jacked up, dealing with under-trained “managers” who are not allowed to take decisions or just observing the banks’ incompetent and greedy antics on the national stage, most of my business colleagues just want to get everything paid off and give the high street “lenders” as wide berth as possible.