Treasury Minister Mark Hoban told ITV News that the £80 billion Funding for Lending Scheme will be a "welcome boost" to the economy, with the plan of "encouraging" small businesses and first-time buyers to invest in loans and mortgages.
More top news
Singer reaches settlement with police following legal fight prompted by investigation conducted into him following sex assault allegations.
Manchester musicians Liam Gallagher, The Charlatans and Dave Haslam have pledged their support along with the Salford Red Devils.
Damon Smith from Newton Abbot was found guilty of planting a home-made bomb on the London Underground in October.