Bank lending biggest task - Lord Mandelson
BANKS are the biggest challenge for the Government said Lord Mandelson as he called on them to offer a more basic service.
"We're doing everything we can to get bank lending started again. It's the biggest challenge we face.
"I will continue to work closely and determinedly with the banks to ensure they're operating in the interests of their customers.
He said the Government was monitoring bank lending patterns with the Bank of England and Financial Services Auth-ority. "We will be working with banks on a revised Statement of Principles for small and medium enterprise lending.
"That code will reflect the level of support taxpayers have put into the banks and the clear expectation viable small firms must not be put at risk.
"Difficult calls have to be made. But we will not shy away from supporting your companies through this crisis."
Watch our video interview with Lord Mandelson - press the green button and for more CLICK HERE
Full a report and photographs on Lord Mandelson's Made in Sheffield visit, see The Star on Saturday, November 29, 2008.
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