Quote Originally Posted by mickd1961 View Post
Not words I’ve often put in a sentence.

Today on the news he was commenting on the slowness of emergency funding reaching businesses under pressure.

Apparently.......those b a s t a r d s at the banks are playing hardball because they’re still on the hook for 20% of any loan given.

Unbelievable considering we saved their a r s e s in 2008!

Miliband is spot on.......the government need to underwrite 100% of these emergency loans so that money can be accessed quickly by the desperate.

Yes,there will be some abuse but overall it’ll see that most businesses survive.

I’ve been very,very lucky so I don’t need to lend any........due to selling goods that suit the season and the situation we’ve been ridiculously busy but if this happens again in autumn/winter our sales would be almost zero.

A well thought out idea by Ed and I hope Rishi Sunak takes it onboard.
I heard yesterday that the Banks have only given 2% of the loans available to businesses. I heard this on the news just before that Lloyds Bank advert came on telling us that they're with us every step of the way in these difficult times.

BBC News interviewed a bloke who owned a manufacturing lab who said he could make testing kits to the required standard to a very high volume. When asked why he wasn't he said that he had been refused a loan by his bank as he would manufacture these kits at low margin and didn't want to be seen to profit excessively from the current crisis and was therefore taking a benevolent view. So, BBC News concluded the country was missing out on thousands of these kits due to the bank even in these circumstances refusing a loan.