UK business lending slashed in face of lowered growth prospects…
Paying down baby debt may have sounded like a good policy in opposition, but George Osborne’s intervention to try and get banks (those largely publicly funded institutions) to lend money in an economy that’s as close as Ireland to contracting again, is faltering… The Daily Mail reports lending to business is down by £10 Billion on last year… And Moody’s have put the UK on notice that its AAA rating is switched from positive to negative. They cite two primary …