Bank chiefs join forces to get business lending back on track

The British Bankers’ Association boss Stephen Green has outlined the plans in a letter to chancellor George Osborne.

Green said there was a “need to make sure that viable businesses are able to obtain the finance they need to support the recovery of the UK economy”.

Green, also chairman of HSBC, said the group would explore problems affecting the markets.

It would also examine other issues that would “influence the ability of UK businesses to obtain the finance they need to support private sector growth”, he added.

Green, has agreed with business leaders in saying that it was essential that credit was available to viable businesses and to help aid economic recovery.

The taskforce will also include members from the Treasury, BIS and the Bank of England and present Its findings to the chancellor in October.