MPC MUST PUT BUSINESS BEFORE HOMEOWNERS

MPC MUST PUT BUSINESS BEFORE HOMEOWNERS



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Base Commercial Mortgages Limited, the specialist commercial mortgage lender,
says that the Monetary Policy Committee must place the needs of UK PLC above that of homeowners, when it meets to decide on interest rates this week.
 
Mark Stephens, Chief Executive at Base, said: “As the economy teeters on the edge of recession, it’s British business which is in most urgent need of a helping hand. With the price of fuel and raw materials both rising rapidly, businesses need to keep their costs under control and a drop in interest rates would be a welcome development for many hard-pressed business owners.
 
“Lower interest rates would obviously be a welcome relief for thousands of homeowners, but they should not be the MPCs main consideration. The economy needs to be kept ticking along and it is business rather than homeowners who need to be supported.
 
The government also needs to do everything within its power to help switch back on the flow of funds to small and medium sized enterprises, which are being starved of vital working capital. A lack of funding is seriously impairing their ability to take advantage of those market opportunities which do exist; lower interest rates will undoubtedly help, but access to funding will be an even greater help.”

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