Arab Today, arab today credit conditions improving for british businesses
Last Updated : GMT 09:14:30
Arab Today, arab today
Arab Today, arab today

Credit conditions improving for British businesses

Arab Today, arab today

Arab Today, arab today Credit conditions improving for British businesses

London - XINHUA

The Bank of England (BOE) credit survey published Wednesday showed that credit conditions are improving for businesses as well as households, which will help underpin the current recovery in the British economy, economists said. "The figures are encouraging, and there is definitely an improvement in credit conditions in line with the improving outlook for the UK economy," said Suren Thiru, UK economist with the business body British Chambers of Commerce (BCC), in an interview with Xinhua. Issues persisted however, he added, saying that the BCC membership, particularly young, fast-growing companies are struggling to get the finance they need while safe bets -- large firms in business for a long time -- can get access to the finance they need. "It is the smaller firms which are struggling," he said. Howard Archer, chief British and European economist with IHS Global Insight, said the BOE credit conditions survey was "encouraging" as it indicated "credit conditions are improving for corporates as well as for households." The BOE survey reported a "significant" increase in credit availability to corporates in the fourth quarter of 2013, with a further increase expected in the first quarter of 2014. This comes against a background of continued reports from businesses and business organizations that one of the main obstacles to growth is the difficulty firms are having in obtaining finance for expansion. The BOE refocused its Funding for Lending Scheme (FLS) from the beginning of this year so that it no longer supplies resources to increase credit for mortgage borrowers, but solely focuses on funding for businesses, which was originally only part of its remit when set up by the BOE. It has to be hoped that this has a significant positive impulse amid a much improved business environment, Archer said. "Importantly, credit availability was reported to have increased for smaller companies as well as for larger ones," he added. Archer said the increase in credit availability was reported to be due to the improved economic outlook as well as from market share objectives, and competition from capital markets. The spreads on lending to corporates were reported to have fallen in the fourth quarter of 2013, although this was primarily for large and medium-sized companies, Archer added. A slight reduction was reported for small companies. Spreads are expected to tighten further in the first quarter of 2014, but again mainly for larger and medium-sized companies. He said that business demand for credit was likely to pick up appreciably in the coming months. Thiru said that there was a desire for more credit. "What is holding small businesses back is the phenomenon of discourage command -- firms want finance but know they won't, so don't apply in the first place." There was also an increase in credit availability for mortgage lending to householders in Q4 2013. The British government's Help to Buy Scheme, aimed at first-time buyers to give them greater access to credit, began in October and may have played a part in this. The spreads on mortgage lending fell significantly further in the fourth quarter, while demand for mortgages rose markedly, said Archer. "This is yet further evidence that housing market activity is gaining substantial momentum," he said. The availability of unsecured credit to households was reported to be unchanged in Q4 2013 after rising through the first three quarters.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today credit conditions improving for british businesses Arab Today, arab today credit conditions improving for british businesses

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday