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Cameron: Small business needs new loans

Fri 28 Nov 2008

Conservative party leader David Cameron has called for a new scheme to give loans to small businesses.

His proposed National Loan Guarantee Scheme, could allow "billions of new loans" to help companies, he says.

By guaranteeing credit to businesses he says it "gets to the heart of the credit crunch and goes a long way to solving Britain's credit problems".

Currently, firms are struggling to get credit from banks hit hard by previous mortgage and investment debts.

By releasing cash into the system, Mr Cameron hopes to encourage firms to invest and create jobs.

Gordon Brown's government is implementing an equivalent initiative, albeit on a smaller scale.

The Small Firms Loan Guarantee Scheme has been devised by the Department for Business, Enterprise and Regulatory Reform, and guarantees lenders the government will cover part of their loans.

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