Tuesday, November 25, 2008
‘Normal’ – definition required
Gordon Brown has injected £37billion into Lloyds-TSB, HBOS and RBS, and extended billions more in support to other banks. Yet business groups say banks are still refusing to lend to some firms and demanding punitive rates of interest from existing borrowers. Restoring bank lending to "normal" levels is "the single most pressing challenge to domestic economic policy", Mr King said.