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.”
- 3 Indonesia executions: Death row British grandmother Lindsay Sandiford will refuse to wear a blindfold when she faces firing squad
- 4 Oxygen-starved 'dead zones' with no marine life up to 100-miles long discovered in the Atlantic Ocean
- 5 How the language you speak changes your view of the world
Lucy Hawking: Stephen Hawking's daughter writes impassioned open letter to Katie Hopkins about rights of disabled people
Indonesia executions: Death row British grandmother Lindsay Sandiford will refuse to wear a blindfold when she faces firing squad
Oxygen-starved 'dead zones' with no marine life up to 100-miles long discovered in the Atlantic Ocean
How the language you speak changes your view of the world
Russian warships accused of 'chasing away' Swedish vessel to prevent Baltic States from achieving energy independence
Over 50,000 families shipped out of London boroughs in the past three years due to welfare cuts and soaring rents
EU asylum policy is 'a direct threat to our civilisation', says Nigel Farage
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: SNP and its activists 'openly racist' towards the English, Farage says
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
iJobs Money & Business
£16000 - £18500 per annum: Recruitment Genius: This is an excellent opportunit...
£24000 - £28000 per annum: Recruitment Genius: A Senior SEO Executive is requi...
£16000 - £18000 per annum: Recruitment Genius: An Online customer Service Admi...
£18000 - £22000 per annum: Recruitment Genius: This global, industry leading, ...