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 The FPB has launched a petition calling on the Prime Minister to closely monitor UK banks' lending to small and medium-sized businesses, to ensure that banks honour their bail-out obligations of remaining open for business.
You can add your name to the petition here. Simply fill in your details and then read the email you receive very carefully, as you will be required to confirm your request.
We have asked 100 members of the FPB to join our newly formed Economic Downturn Panel, which will monitor experiences of the economic downturn and, in particular, the changing behaviours of the banks. We will be feeding members' experiences directly into Lord Mandelson, the Minister for Business, Enterprise and Regulatory Reform.
Campaigns activities
Phil Orford the FPB's Chief Executive, will be meeting the Prime Minister, Gordon Brown, on Thursday to further highlight the affects the economic downturn is having on FPB members.
Mr Orford, met with Lord Mandelson and representatives from the banks last week to discuss how the banks' actions are affecting members. We used the information provided by the members of the Economic Downturn Panel to feed directly into this newly created forum.
Mr Orford has also written to the British Banking Association (BBA), to urge its members to restore lending to 2007 levels. He will meet with the BBA in November to pass on the concerns of members.
We have recently publicised several members' individual experiences in the press. FPB member Kevin Whiting, of Sherdon Estate Agents, near Basingstoke, has banked with HSBC for 17 years. However, his recent application to increase his small mortgage in order to develop his business – and bring in an additional £600 per month – was rejected. His story was published in the Financial Times on Friday 31 October.
Mr Whiting said: "They said they had decided to withdraw from the property development sector due to the current market conditions. My argument is that, if this is true, it amounts to a moratorium across the board, and means that they're not considering individual cases."
We want to hear from you
If this, or any other issue, is affecting your business, then we want to hear from you. Speak to the Campaigns team on 01565 635 467 or email us at campaigns@fpb.org. Your experiences will remain completely confidential unless you would specifically like us to publicise your issue. |
