The Government gave RBS a lending target. K2, a Luton company (on World at One) said that they went to the state-owned RBS and were refused. It wasn’t that they didn’t have a good business case. Because guess what – they did. Why? Because they went to a foreign owned bank who, after two meetings, gave them 3 Million quid.
Yet when it came to Kraft they didn’t stop RBS from lending to take jobs AWAY from the UK. Labour said nothing much about it though one can only wonder whether it was to do with ensuring more jobs for the British financial services sector. Or did they have tax revenue pounds in their eyes?
Why then doesn’t Labour do more to look at the individual cases and ask tough questions to RBS? Is this a big Labour fail? Thus a company has had to go to an overseas bank and take away the job prospects of British people.
How many more Labour fails of small and medium sized businesses are there? Why not guarantee the lending of worthy SMEs?
Or is it that Labour are the friends of the fat cats?