Beyond the Banks: The case for a British Industry and Enterprise Bond

Download the Beyond the Banks report (PDF)

Economic recovery and growth relies on investment by UK businesses. But levels of bank lending remain stubbornly low, and may fall further as the Eurozone crisis deepens. In October 2011, the Chancellor of the Exchequer announced that the Government would begin a policy of credit easing to improve small businesses' access to finance.

The issue of credit easing has been widely discussed by macroeconomists and large banks. This report offers a different perspective, drawing on the insights of the entrepreneurial businesses that rely on finance to grow and the new providers of credit who are attempting to improve the system.

Our central recommendation is that the right kind of credit easing measures can bring new sources of capital to invest in small businesses.

Published:
November 2011

Authors:
Stian Westlake, Sam Gyimah MP and Marco Zappalorto