CBI responds to business bank proposals

25 Sep 2012 10:11 AM

The CBI responded to proposals from the Secretary of State for Business, Dr Vince Cable, for a new business bank.

John Cridland, CBI Director-General, said:

"By bringing together all existing support into a one-stop shop, and by increasing the supply of capital to firms that want to grow long-term, the business bank has the potential to support lending and help small and medium-sized businesses to grow.

"The bank could also play a vital role in packaging up and selling debt from medium-sized companies, allowing them to access vital finance streams.

"The Government must now work swiftly to gets the bank up and running so that it can start helping small and medium-sized businesses as quickly as possible."

Notes to Editors:

The CBI Annual Conference 2012, Forging a New Economic Future, will take place on Monday 19 November at the Grosvenor House Hotel in London, featuring an exceptional line-up of business and political speakers.