Personal Finance News

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million

News archive

This Week's Personal Finance News Update

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million
30/10/12 - More than half of parents are unaware of Junior ISAs
30/10/12 - Over 80% of advisers name 'cost & administration' as top employer concern
30/10/12 - Brits left with £1.4bn repair bill during 'mischief week'
29/10/12 - East of England landlords at apex of yield chart
29/10/12 - Buyers more optimistic about Scottish property market

News

02/08/2012 10:10:04

FLS opens to get households spending

The Funding for Lending Scheme (FLS) was launched yesterday (August 1st) in a bid to get households spending and reboot the economy.

Banks and building societies will be allowed to borrow from the fund at a cheaper rate to encourage them to increase lending to consumers and businesses.

It is hoped the initiative will get people back onto high streets and has come at an optimum time with figures from the Office for National Statistics revealing household disposable incomes hit a seven-year low in the first quarter of 2012.

The move has been welcomed by John Cridland, director general of the Confederation of British Industry, who believes it will provide much-needed support to the economy.

He said: "Rising borrowing costs have held back the growth ambitions of many small and medium-sized firms.

"This scheme should support banks to make finance more affordable to businesses and consumers, while also encouraging banks to lend more."

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