The Chancellor George Osborne has asked the UK banks to increase their lending for the companies to increase the businesses of UK. The chancellor has also said the UK government would not allow the banks to create pressure on the small business firms.
The banks will have to lift up their lending. His statements just came before the UK banks including Barclays, RBS, Lloyds and HSBC were ready to declare their profits in this week.
In a response to the chancellor's statement, the British Bankers' Association has said the banks know their role in the economy of the country. The chief executive of the British Bankers' Association, Angela Knight has said that the banks have already shown so many commitments to support the businesses of the country and they would do the same in the future as per the demand of time.
The coalition government is trying to find out ways to increase bank's lending for the companies. This issue of increase in lending was earlier announced by the business secretary Vince Cable in the last month and he also unveiled a consultation paper jointly with the Treasury to enhance the cash flow to the market.
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