Beyond the Banks: The Autumn Statement

Pleased that the Beyond the Banks report which I co-authored with NESTA made it into the Chancellor's Autumn Statement.

Firstly, the report has helped shift the debate from 'bashing the banks' to lend more to finding innovative and practical ways to help business.

Secondly, two of the initiatives announced in the Statement were in the report. These were the 1 billion Business Finance Partnership which would involve the Treasury supporting non-bank lending institutions to lend to SME's. If the scheme is successful the Treasury would look to increase the size of its commitment. Further, a task force is being set up to look at how the Treasury can help foster an SME bond market (the report's main recommendation). The taskforce will be reporting by the next budget on this.

For some of the key themes in the report please see below for a number of articles I have written:

Con Home 25 November , The Chancellor should use credit easing to change the lending landscape for British Business

Politics Home 28 November, The Autumn Statement should be about restoring confidence

New Statesman 29 November, Building the Businesses of the future

Photo courtsey of The Daily Politics Show the day before the The Autumn Statement (28/11/11)

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