links for 2009-02-13

CBI calls for urgent Government intervention - CBI Press Release -

If credit isn't available soon the recession is going to get a whole lot worse; CBI Director-General, Richard Lambert, has this week urged the Government to implement its various support packages to tackle the credit crunch as quickly as possible. His call for action follows the publication of new CBI research that shows credit conditions have significantly worsened over the past three months and that firms expect a further reduction in credit availability in the next quarter following the fall in activity by many foreign banks and other financiers. The CBI Access to Finance Survey (in PDF at the end of the article) also found that the cost of finance has increased, especially for new credit lines. The survey illustrated that the credit crunch is having a direct impact on business activity. Two fifths of firms said that they had cut job numbers and three fifths said that they had scaled back capital investment.

(tags: business uk cbi credit-crunch richard-lambart uk-government recession credit lending)

Posted by: Wayne Horkan
Date / Time: Friday Feb 13, 2009, 21:02 GMT

Category: Link

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