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Commenting on the green paper launched today by Vince Cable and George Osbourne, Colin Stanbridge, Chief Executive of the London Chamber of Commerce and Industry (LCCI) said:
“The government is right to be concerned about business access to finance and the role of the banks but the reality is that many companies are simply not looking for loans while the economic outlook is so uncertain. Our latest research shows that in London just 24 per cent of firms are actively seeking credit and only 17 per cent say it is difficult to obtain a loan. The government must focus on doing all it can to raise the confidence of companies by keeping business taxes as low as possible and removing unnecessary regulation, especially in the area of employment.”
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“The government is right to be concerned about business access to finance and the role of the banks but the reality is that many companies are simply not looking for loans while the economic outlook is so uncertain. Our latest research shows that in London just 24 per cent of firms are actively seeking credit and only 17 per cent say it is difficult to obtain a loan. The government must focus on doing all it can to raise the confidence of companies by keeping business taxes as low as possible and removing unnecessary regulation, especially in the area of employment.”
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