Osborne unveils plan to kick-start lending by banks


The Chancellor has used his annual Mansion House speech to announce a scheme to kick-start lending by banks.

At the event in the City of London, George Osborne said he would work with the Bank of England on a plan to provide billions of pounds of cheap credit to banks, in an attempt to stimulate lending to households and businesses.

He said the measure would help defend the UK economy from the eurozone crisis on Britain's doorstep.

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.