I was disappointed to read that the major banks and the Government have yet to reach agreement in terms of project Merlin, which is a plan to increase the availability of finance to small and medium businesses. I think that support of small and medium businesses is fundamental to getting the economy back on the right track. Given the furore over bankers’ pay and bonuses I would have thought the banks would have been more inclined to be more co-operative, although I do appreciate that there are some legal issues that need to be dealt with including the issues of lending to what might be described as weaker businesses.
I would urge both sides to work together and reach an agreement as quickly as possible to give small and medium businesses the funding they urgently require to survive and flourish in this difficult time.
Head of Property Services
- Let’s hope Merlin casts a powerful enough spell to banish bank bashing (telegraph.co.uk)
- Long awaited Project Merlin banks bonuses and lending deal set to be revealed (newstatesman.com)