- Vadera at the British Chambers of Commerce Convention
- Claims she's happy to 'hassle' banks into increasing lending
- Defends the new 50% income tax for high earners
- Pledges the government is 'thinking like small businesses'
Small business minister Shriti Vadera has claimed she has spent time 'hassling' bank executives into lending more money to entrepreneurs.
Speaking at the British Chambers of Commerce Annual Convention in Birmingham, Vadera, known for her no-nonsense attitude, said she is committed to encouraging banks to boost lending to SMEs – even if it means working weekends.
"I know some of you have been frustrated by the focus the banks have required practically and financially, she told delegates. "Frankly, given the number of weekends I've spent locked in the Treasury in seeming mortal combat with them, so am I too sometimes.
"But if we don't fix the banks, we can't fix anything else. Finance is the lifeblood of small businesses and small businesses are the lifeblood of the economy."
Vadera acknowledged that although the main banks have committed to increase net lending to small businesses in 2009 by at least £8bn, many will still adjust their assessment of the riskiness of a business due to the current economic climate.
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