Details of a new scheme to help make £80 billion of loans more accessible and cheaper for households and businesses have been announced by Bank of England and the Treasury today.
George Osborne, the Chancellor, and Sir Mervyn King, Bank of England Governor, first revealed the “funding for lending” scheme last month, under which the Bank of England will give banks cheap access to finance if they then lend in turn to cash-strapped businesses and home-buyers.
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