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Autumn Statement: Osborne announces new business bank
Markets
by Danielle Levy on Dec 05, 2012 at 13:21
Chancellor George Osborne is seeking to improve challenging lending and credit conditions for small businesses with plans to create a new bank for business.
The Treasury is providing £1 billion in private capital to the new venture, which will help SMEs.The scheme will sit alongside the government's Funding for Lending scheme announced earlier in the year.
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