CBI calls for more government help to ease credit flows

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CBI calls for more government help to ease credit flows

The Confederation of British Industry (CBI) has called on the government to go further with its measures to improve the flow of credit to businesses.

According to a poll conducted recently by the industry body, 63 per cent of firms that are seeking new finance found that accessing credit has become harder in the last three months.

The CBI found that 59 per cent of the companies it polled predicted that the situation would get worse over the next three months.

Richard Lambert, CBI director-general, said: "We have urged the government to move as quickly as possible to set out when the various support packages to tackle the credit crunch will come into effect and to implement them quickly."

Last month the business secretary Peter Mandelson unveiled a series of measures designed to persuade banks to increase lending to businesses, including setting aside £20 billion to cover the risks incurred by banks which lend to small businesses.

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