I was pleased to read John Cridland’s (the new Head of the CBI) comments against the break up of the UK banks. A break up of the banks would put Britain at a competitive disadvantage with those jurisdictions which prefer to leave the banks intact. Anything that weakens the banks weakens the economic recovery and as such will weaken the housing market. We need to get the banks lending more money to SMEs and also supporting the housing market by increasing mortgage lending – in particular to first time buyers.
I hope the politicians will not jump on the populist bandwagon of bashing the banks and instead turn their attention to supporting the economy through this difficult period.
Head of Property Services
- CBI’s John Cridland warns breaking up banks will harm UK economy (telegraph.co.uk)