Lloyds TSB: PBR measures will help businesses

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Lloyds TSB: PBR measures will help businesses

Lloyds TSB has said that the proposals announced in the government's pre-Budget report (PBR) yesterday will help those who own small and medium-sized enterprises (SMEs).

The export credit guarantee scheme unveiled by Alistair Darling would be particularly helpful to SMEs, Lloyds said.

According to the bank, its interest rates for business borrowers had fallen in line with the base rate of interest, which would also help small business owners.

Emile Abu-Shakra, a spokesman for Lloyds TSB, said the bank was looking forward to working with the government to help SME owners who have been suffering due to the financial crisis.

He added: "There's no doubt that firms face increasing pressure in terms of working capital, as profits have been squeezed and their terms of trade have worsened."

The chancellor also announced yesterday that SMEs could expect some tax relief from the government and the HM Revenue and Customs would be more generous with businesses which could not pay taxes on time.

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