£50bn ‘bailout’ expected to reinvigorate loans market
13 October 2008
The Government’s new £50 billion ‘bank bailout’ aims to stabilise the UK banking industry and kick-start lending.
The proposals will basically provide banks with the funds – and the confidence – which they need to start giving out more loans and other forms of credit.
As the Government’s News Distribution Service reports: ‘In reaching agreement on capital investment the Government will … require a full commitment to support lending to small businesses and home buyers’.
“At this point,” said a spokesperson for Think Money, “nobody really knows what impact this move will have on the credit markets, but many experts are optimistic. £50 billion can certainly go a long way towards encouraging lenders to start lending more money.”
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