9 January 2013
The banking crisis – the out of control boom followed the bust - has had a catastrophic effect on the real economy.
In the boom the banks closed local branches and neglected grass roots banking in pursuit of greedier profits from the more glamorous business of investment banking. The debt and lending crisis that their mismanagement caused has hit the high streets, small businesses and families of Mid Norfolk very hard.
Small businesses are the lifeblood of our economy and need the banks to support them.
This is why I continue to work with MPs across Norfolk and Suffolk to establish fairer lending practices for small businesses, and am delighted to be helping reconvene the Banking Forum we set up last year with the Federation of Small Businesses East Anglia.
This forum brings together MP’s, small firms, Senior Banking representatives and alternative finance providers, aiming to discuss improvements for business financing and access to finance, with real life banking testimonials and experiences that will help shape future policy.
In the boom the banks closed local branches and neglected grass roots banking in pursuit of greedier profits from the more glamorous business of investment banking. The debt and lending crisis that their mismanagement caused has hit the high streets, small businesses and families of Mid Norfolk very hard.
Small businesses are the lifeblood of our economy and need the banks to support them.
This is why I continue to work with MPs across Norfolk and Suffolk to establish fairer lending practices for small businesses, and am delighted to be helping reconvene the Banking Forum we set up last year with the Federation of Small Businesses East Anglia.
This forum brings together MP’s, small firms, Senior Banking representatives and alternative finance providers, aiming to discuss improvements for business financing and access to finance, with real life banking testimonials and experiences that will help shape future policy.
