- Jasmine: @deValoisPens Thank you! #ff (24th May 2013 - 22:22)
- Jasmine: RT @EatOrHeat: Next fri is FOOD BANK FRIDAY in e17,drop a tin off @roseandcrownpub (24th May 2013 - 17:48)
- Jasmine: @EatOrHeat Sounds good! (24th May 2013 - 17:48)
- Jasmine: @WebpresenceUK Sure if you follow me with DM you (24th May 2013 - 17:15)
- Jasmine: RT @Channel4News: "He's a lovely gentle boy had makings of a fine young man" neighbour on #Woolwich suspect http://t.co/l180fjzlA8 <<tragic (24th May 2013 - 17:13)
- Jasmine: @EatOrHeat I'm in Notting Hill. Any drop-off points round here? (24th May 2013 - 17:13)
- Jasmine: RT @TheWomensRoomUK: Please act today to put a stop to #FBrape. Advertisers pulling out left right & centre: http://t.co/iTnbgMQRzI (24th May 2013 - 17:11)
- Jasmine: RT @LDN: Pop ups in London this week http://t.co/k56djKuGEX <<handy stuff (24th May 2013 - 16:31)
- Jasmine: @MintTwist That sounds good. When and where? (24th May 2013 - 16:30)
- Jasmine: Spend £15 or more in Boots over the long weekend and receive 10 Advantage Card points per £1 you spend (24th May 2013 - 16:30)
- Jasmine: RT @csmonitor: #Oklahoma #tornado unleashed more power than the nuclear bomb dropped on Hiroshima: http://t.co/4Ba3kInvL6 (24th May 2013 - 14:32)
- Jasmine: RT @Moneymagpie: Why not try to detox your finances this weekend. Find out how here... http://t.co/zp1SqUEm55 (24th May 2013 - 14:28)
- Jasmine: @xpwebservices Thanks! (24th May 2013 - 14:26)
- Jasmine: @brandamplifier Cool, thanks! #mentorship #welldone (24th May 2013 - 13:09)
- Jasmine: @WebpresenceUK I have sent a message through the form on your site (24th May 2013 - 12:32)
- Jasmine: @WebpresenceUK Sure, I will email you. Thanks (24th May 2013 - 12:31)
- Jasmine: @AskJames Sadly the email bounced back (24th May 2013 - 11:48)
- Jasmine: @ElmTreeFS Hi, sadly the email I sent bounced back. (24th May 2013 - 11:47)
- Jasmine: @Compare_Quotes Thank you! (24th May 2013 - 11:25)
- Jasmine: RT @THEJamesWhale: Well done to the EU for banning pesticides that kill bees. #FEELGOODFRIDAY <<quite! (24th May 2013 - 11:19)
Banks need to lend or the economy will seize up
May 22, 2012
So far I haven’t been one to complain about the banks not lending enough. I was particularly unimpressed by the bleatings of various businesses that they couldn’t cope unless they could borrow. I thought – and still think – that many of those businesses were just being badly run and were blaming a lack of lending for their own failures.
However, it has now got to the point where the housing market – even in London, potentially – could dry up completely because people with assets and decent incomes can’t get mortgages. Buy-to-let mortgages are becoming scarcer and even the usual Standard Variable Rate (SVR) mortgages are now rarer than hen’s teeth.
Business lending is also at rock bottom. This means that genuinely good businesses, or genuinely good business ideas coming from people with experience, are being starved at source.
I don’t think that austerity measures are causing the economy to founder. I do think that banking stupidity and fear are.
Not only that but I am seeing a very worrying trend of big business not paying their bills or not paying their bills on time (like 6 months late!) which is also destroying small businesses…the lifeblood of our economy.
I’ll be writing more on this later but a concerted campaign is needed on both these issues, mainly at government level.
What do you think?