Mr Redwood’s contribution to Treasury Questions, 24 Jan

Mr John Redwood (Wokingham) (Con): When will we see more of the details of the credit easing scheme and what is the Minister’s forecast of the monthly draw-down for the rest of this year?

The Financial Secretary to the Treasury (Mr Mark Hoban): We are working with banks on the details behind the national loan guarantee scheme. We have set aside £20 billion to enable the rates that are charged to small businesses to fall by up to 1%. The utilisation of the scheme will very much be driven by the demand from businesses for debt finance.

1 Comment

  1. David Langley
    January 27, 2012

    Dear John,

    I watched the EU Council debate on TV yesterday and I was very impressed with your contribution. I regret the house was virtually empty as the way you stylishly unpicked the Eurozone situation and put it back together was magnificent. You sound like you have a plan to get us back to sanity, and a new future without the EU project dooming us to mediocrity.
    I cannot believe that those windbags pontificating on the other side of the chamber have any real idea of what they are talking about, the EU and its objectives and construction. In any event they just made your statement sound authoritative which it was.

    reply: Many thanks. I will have it posted here.

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