SCC WELCOMES PROJECT MERLIN AS A STEP IN THE RIGHT DIRECTION
[ 09-02-2011 ]
Commenting on today’s announcement by the Chancellor on the outcomes of Project Merlin, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said:
“It is welcome that the Government have secured a commitment from the banks for additional lending to business this year, and it is particularly important that the bulk of the extra lending is directed towards SMEs. However one of the main concerns for businesses in Scotland is the cost of borrowing and the sometimes onerous conditions attached to loans rather than the volume of lending.
“Project Merlin is a step forward in terms of transparency and monitoring, but the journey towards re-establishing solid and lasting relationships between business and the banks remains challenging. This remains a priority if the Scottish economy is to return to the path towards long term sustainable growth.”
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