The latest quarterly report from accountants Ernst&Young says that the effect of the UK’s FLS ( Funding for Lending) scheme, last week extended by the BOE for another year to 2015, will start to have some impact along with other key factors.
The highly regarded E&Y’s Item Club forecasts that this year UK business lending is set to rise by GBP440 bln, the first rise since 2008, and by 8.7% in 2014 to GBP477 bln.
Good news for the UK, if true, as getting money out into the economy has been a real drag on growth. Time will tell.
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