Tuesday, 25 November 2008

Clegg - 'government should work on a plan b'

. From Politics Home...

"Mr Clegg said the banks had to begin lending again, and if they don’t the government must develop a Plan B, involving either writing off bad debts or directly lending into the economy.

He said the banks have to start lending, and if they fail to do so, the government must now work on Plan B on how to get money back into the hands of businesses. The government has got to get really tough with the bankers. It was part of the deal. They have to be forced to do so.

If that doesn’t work we need a Plan B to bypass the banks to get money into the economy. I think the government should be working actively on a Plan B. It should either take bad debts off the balance sheets or look at lending directly into the economy."

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