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Brown calls on banks to prop up small businesses

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Brown calls on banks to prop up small businesses


Gordon Brown has urged banks not to let down small and medium-sized businesses as recession looms.

Speaking after talks with his German counterpart, Angela Merkel, the British Prime Minister urged the European Investment Bank to boost lending to companies suffering from the global credit crunch.

“Today the Chancellor and I have discussed how we can do more to provide innovative means of finance for small and medium sized businesses in our country,” said Brown. “And I urge banks not to change the terms and charges for existing lending to small and medium-sized enterprises.”

The talks come ahead of a planned EU meeting next week to discuss how to deal with the crisis, and a summit of world leaders in Washington on November 15.

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