The Business Secretary Vince Cable briefly discusses how the new small business bank will operate and how the government will manage it.
The government will not get involved in face-to-face lending as had been suggested by some people. The aim is to make interventions in the wholesale market that will help more funds flow to small business.
The government have clearly identified there is a gap in funding of small businesses that was not being met by the usual banking arrangements following the recent banking crisis.
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