We must keep investing!
A couple of weeks ago the Bank of England confirmed what we had long suspected, that businesses' access to credit is still decreasing. The release of the 'Credit Conditions Survey' for Q3 showed that conditions were not improving and had slightly worsened over the last three months - with further reductions in corporate credit predicted in Q4.
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The Bottom Line:If Mr Cable has his way...
"If Mr Cable had his way, all the big banks would be broken up and bonuses would be virtually eliminated - a sure-fire way in my view of guaranteeing an end to the UK’s ability to compete as an international financial centre. Let’s not forget that this is a man who is on record as saying that everyone who works in a bank has an ‘aristocratic lifestyle’ clearly demonstrating his lack of understanding of the sector." A tough line on bankers’ bonuses could make a brain drain of financial talent a distinct possibility, warns Paul Marsden. Read more