Business lending did not meet the expected levels in the past quarter, according to the the latest Bank of England Credit Conditions Survey.

David Frost, director general of the British Chambers of Commerce (BCC), says: “This is particularly concerning news considering the pivotal role businesses will play in driving the UK out of recession.
 
“If the banks do not grasp the nettle and start lending effectively to the private sector, they will simply be playing a part in prolonging this downturn. Banks have a responsibility not just to lend, but to lend to the wealth-creating sectors of the economy.”