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£80bn bank lending scheme

The Bank of England and Treasury's £80 billion Funding for Lending scheme (FLS) was fired into action today in the latest attempt to boost the struggling economy.

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FSB: Lending scheme is 'last chance to use high street banks'

Pierre Williams from the Federation of Small Businesses told ITV News that if the Funding for Lending Scheme fails, the Government will have to "look carefully" at whether high street banks are the 'right conduit'.

The £80 billion scheme will give money to banks on the basis that they provide cheaper loans to kick-start lending.

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