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first_img whatsapp King ups the ante on bank lending to small firms KCS-content More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com MERVYN King again waded into the row over bank lending rates at the Bank of England’s inflation report meeting yesterday, accusing banks of profiting off struggling small businesses.“The spread that banks are making on loans is much, much higher than it was before and compared with the decade’s average,” he said. Unlike large businesses, he said that small firms are unable to access other sources of credit by issuing equities or bonds.His comments come after an appearance before the Treasury Select Committee last week in which he referred to banks’ levels of lending to small businesses as “heartbreaking”.Small business groups added their voices to King’s, calling on the government to adopt a “carrot and stick” approach to force banks to lend, with penalties for failing to do so.Phil McCabe of the Forum of Private Business said: “Banks aren’t lending enough to small businesses and when they are the cost is too steep.” Show Comments ▼ Share whatsapp Wednesday 11 August 2010 8:28 pm Tags: NULLlast_img read more