Government Initiatives

Banks get warning on small business lending

The UK’s major banks could be faced with a competition enquiry if they do not step up the level of lending to SMEs and reduce its cost.

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Savers to benefit from improved compensation rules

Savers will get better protection in the event of their bank or building society collapsing.

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Minister urges smaller businesses to enquire about government loans

SMEs that are struggling to secure finance from the banks should look at the possibility of using the government’s loans scheme.

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VAT rise still looks set for end of December

Treasury plans to increase the rate of VAT to 17.5 per cent at the end of the year appear certain to go ahead.

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Small business internships would help graduate employment

The government has been urged to create 5,000 graduate internships in smaller businesses as a way of combating rising unemployment among those leaving university.

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Review urges firms to engage with their employees

An independent review has said that involving employees fully in the future of their firms will help businesses to innovate and take advantage of new opportunities.

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Review could signal end of compulsory retirement age

The government’s announcement that it is to bring forward a planned review of the default retirement age could mean that employers may lose the right to force staff to retire at 65.

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Government asks for views on business rates relief scheme

A consultation has been launched on a £2 billion relief scheme aimed at helping businesses cope with rises in their rates bills.

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Manufacturing needs more direct state support

A manifesto has called on the government to place the manufacturing sector at the centre of a better balanced and more diverse UK economy.

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Government plans capital fund for small hi-tech firms

The government has announced details of a venture capital fund designed to support small technology businesses.

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