GBP100bn Government Bank Loans Stimulus
Published / Last Updated on 14/06/2012
£100bn Government Bank Loans Stimulus.
The Bank of England is to launch 2 new stimulus packages, which will provide billions of pounds of cheap credit to banks to lend to companies. Banks will also have access to short-term money to deal with "exceptional market stresses".
According to the chancellor George Osborne, the packages will support the flow of credit to where it is needed in the real economy and would also inject confidence. However, Labour's shadow chancellor Ed Balls doesn't think the plans go far enough.