Cheeky bankers!

I’ve just seen a story about the six largest banks in the UK (Lloyds TSB, RBS NatWest, Barclays, HSBC, Santander and Standard Chartered) setting up a £1bn venture fund to invest in smaller businesses whereby they will each hold stakes in each investee company.

Aren’t these the very same banks who are making life unbelievably difficult right now for huge numbers of small busines owners by either refusing them loans or hiking rates and charges to ridiculous levels?

So, why on earth would a small business owner want these very same people to be investors in their business?

Forgive my cynicism but why am I not surprised that the idea has come out of a “task force” comprising the British Bankers Association, the Treasury and the Department for Business, Innovation and Skills?  Apparently, it’s being presented to George Osborne and Vince Cable this week.

Watch this space!

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