9th October 2008
The prime minister has said that the Government's bank bail-out plan is intended to protect small and medium enterprises (SMEs).
Gordon Brown insisted that "the bank credit line will be maintained to small businesses" as a result of the £500 billion plan.
Speaking to GMTV this morning, he said: "My interest is that small businesses looking for a mortgage can get one."
Mr Brown blamed much of the UK's economic crisis on problems that have 'come out of America' and on banks that have been 'living beyond their means and taking risks'.
The Forum of Private Business (FPB) said that it welcomed the prime minister's pledge, but warned that it was "still unclear how much of the Government's £250 billion bail-out fund for banks will be available to small firms."
Speaking to More Than Business News, FPB spokesman Phil McCabe said: "It is important that the banks also understand that they must preserve their credit facilities in order to help entrepreneurs, their employees - and the economy as a whole - to withstand the economic downturn."
Gordon Brown's pledge to small businesses
Gordon Brown insisted that "the bank credit line will be maintained to small businesses" as a result of the £500 billion plan.
Speaking to GMTV this morning, he said: "My interest is that small businesses looking for a mortgage can get one."
Mr Brown blamed much of the UK's economic crisis on problems that have 'come out of America' and on banks that have been 'living beyond their means and taking risks'.
The Forum of Private Business (FPB) said that it welcomed the prime minister's pledge, but warned that it was "still unclear how much of the Government's £250 billion bail-out fund for banks will be available to small firms."
Speaking to More Than Business News, FPB spokesman Phil McCabe said: "It is important that the banks also understand that they must preserve their credit facilities in order to help entrepreneurs, their employees - and the economy as a whole - to withstand the economic downturn."
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