This is a quote from the book "Chancellor Alistair Darling on brink of second bailout for banks" by The Times
...nger.

Richard Lambert, the Director-General of the CBI, said yesterday: “The Government is going to have to do more to restore credit flows across the economy.”

He said that the car indust ry was especially vulnerable: “Without access to credit or loan guarantees on commercial terms, this vital part of the economy will incur lasting damage.”

The scale of the lending drought was hi ghlighted as separate Bank figures showed that the number of new home loans approved plunged to a record low in November. Only 27,000 mortgages for house purchase were approved by banks and building s...

read full book block explorer