A lack of credit is the "single most critical problem" for the economy in the short-term, according to the Treasury Committee.
The Treasury Committee also criticised the Government's economic forecasts and its reduction in VAT In a report on 2008's Pre-Budget statement, the influential group of MPs called on the Government to do more to ease the flow of cash into the UK economy. The Committee wants the Treasury's lending panel to provide it with regular updates of actual lending by banks into the real economy. "The Government must ensure the availability of credit increases quickly, and there is still far more work to be done," says Committee chairman John McFall. "Without that increase in availability, the...
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