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The Federation of Small Businesses (FSB) is rather concerned over the Bank of England’s efforts to encourage UK lenders to repay debts. While lenders have repaid about half of what they had borrowed, £185 billion, to deal with the economic crisis in 2008, the BoE wants all debts repaid. Such effort will have a negative impact on the credit and finance that is made available to SMEs. While the bank had brought down interest rates to 0.5% in March 2009 it needs to be careful about how it approaches the special liquidity scheme. By removing billions from the market a slow down in business activity is expected.
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