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Bank Lending

CBI comments on Bank of England credit conditions data

By CreditMan Wednesday, October 9, 2013

The CBI commented on the Bank of England Credit Conditions Survey for the third quarter.

John Cridland, CBI Director-General, said:

“Business confidence appears to have reached a tipping point and is beginning to translate into greater demand from firms for finance to invest. And it’s good news that the overall availability of bank finance has increased to support this.

“It’s also encouraging to see businesses are looking more broadly to alternative sources of growth finance, as well as traditional bank loans.

“To keep up this momentum, the Government should continue to co-invest in proven alternative finance options, like private placements and invoice financing, through its business bank.”

On housing:

“The increase in mortgage approvals shows that the Government’s Help to Buy scheme is having the intended effect of rebooting the housing market, which will support the recovery.”