MPs to investigate small business lending
Inquiry prompted by Tomlinson report containing allegations that RBS forced viable businesses into bankruptcy
The influential Treasury Select Committee is to launch an investigation into small business lending amid a growing scandal about banks’ treatment of the economically vital sector.
The investigation was prompted by the testimony of Government adviser Lawrence Tomlinson and Sir Andrew Large, a former deputy governor of the Bank of England.
Both men have produced reports sharply critical of Royal Bank of Scotland, with Mr Tomlinson’s containing allegations that RBS’s Global Reconstruction Group forced viable businesses into bankruptcy.
Sir Andrew described that as “extreme” but said he would be gravely concerned if regulators, currently investigating the bank, found it to be true.
The inquiry will focus on three issues; access to finance for small and medium sized enterprises, the scope for opening up the sector to more competition and the treatment of SMEs by banks.
The first evidence session will take place on Tuesday.
The committee’s chairman Andrew Tyrie said: “SMEs report that they are struggling to secure adequate access to finance, from banks and elsewhere. It is vital to a sustainable economic recovery in the UK that this market be restored to working order.”
- 1 The Boy in the Dress, TV review: David Walliams' Boxing Day treat is a celebration of being different
- 2 Exclusive: Abusers using spyware apps to monitor partners reaches 'epidemic proportions'
- 3 Andy Murray takes to Twitter to show off his Christmas jumper
- 4 Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'
- 5 Top 10 travel destinations for 2015: From Haiti and Alaska to Namibia and Iceland
PlayStation and Xbox hacked by Lizard Squad
Exclusive: Abusers using spyware apps to monitor partners reaches 'epidemic proportions'
Margaret Thatcher 'expressed fears of Asian rising' at Anglo-Irish summit in 1984
UK weather: Travellers stranded in snow as gales blast across Britain
The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'
iJobs Money & Business
Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...