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CBI welcomes bank bail-out
THE Confederation of British Industry (CBI) has welcomed the banking measures announced by the government this morning but believes it must be followed by a half-point cut in interest rates.
John Cridland, CBI Deputy Director-General, said: “We welcome today’s essential measures which strengthen the British banking system, and will help provide financial stability for the country.
“British business is facing a freezing of bank finance. Many companies need this action to keep investment and working capital flowing.
“This step to build confidence in the City needs to be followed tomorrow by a half-point cut in interest rates to boost consumer confidence."
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