The UK base interest rate is at a record low of 0.5% whilst many of the banks have been raising rates in recent months where typically small business can be charged an overdraft rate of between 7% and 20%.

In response Angela Knight, the CEO of the British Bankers Association says that banks had increased lending and that the rates banks had to pay was substantially higher than 0.5%

More detailed coverage of this story -

Darling to press banks on lending

BBC News - ‎2 hours ago‎

The UK's banks have insisted that lending to small firms is continuing to rise, as they are due to meet the chancellor to discuss the issue. ...

Bankers' 'rip-offs' warning

The Sun - ‎4 hours ago‎

BANK chiefs will be read the riot act today for ripping off small firms in the recession. Alistair Darling will summon top bosses ...

Darling's anger as bailed-out banks bump up loan rates

Daily Mail -‎4 hours ago‎

Banks that have received billions from the taxpayer are now ramping up loan rates to maximise profits, Alistair Darling has admitted. ...

UK banks' lending to small businesses up in June

Reuters - ‎5 hours ago‎

LONDON, July 27 (Reuters) - Lending to British small businesses rose by 391 million pounds ($646 million) in June, indicating that banks are providing ...

Darling criticism puts banks on defensive

guardian.co.uk - ‎8 hours ago‎

Britain's banks are squaring up for a new battle tomorrow with the chancellor, Alistair Darling, after rejecting his complaint that struggling small and ...

By Sarah Jones
Marketoracle.co.uk

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