the big banks are misleading the public

<p>Banks are misleading the public about how much money they are lending to small businesses, the Business Secretary said yesterday. <br /><br />High-street giants insist that they accept about eight in 10 of all applications from small and medium-sized enterprises.<br /><br />But Vince Cable told MPs yesterday that this ignores the fact that many bosses are 'discouraged' from even applying.<br /><br /><br />Slanted figures: Business Secretary Vince Cable told the Commons Business, Innovation and Skills Committee that the big banks are misleading the public<br /><br />This means that the high success rate claimed by the banks may be much lower if the number of bosses who are deterred from even trying was included.<br /><br />He told the Business, Innovation and Skills Committee: 'A lot of demand is discouraged.<br /><br />'People ask a preliminary question at their local branch, and they are discouraged from applying. And that is a real phenomenon.'</p>

the big banks are misleading the public

Banks are misleading the public about how much money they are lending to small businesses, the Business Secretary said yesterday. High-stree...

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