Cable: SME lending 'disappointing'

The Business Secretary Vince Cable has reiterated that the government will consider increasing taxes on banks if they do not improve their lending to small and medium-sized enterprises (SMEs).

Mr Cable told the Business, Innovation and Skills Committee that he was disappointed the banks missed their lending targets for the the first quarter of the year.

He said failure to live up to their commitments across the year would inhibit growth.

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