The British Investment Bank was a proposed public bank designed to finance projects of national interest. All members of the G7 group of countries, plus Russia, have a public investment bank of varying kinds, except for Britain. It is seen as a useful route for small and medium businesses to get loans on fair terms, particularly when conventional private banks are reluctant to lend. It was supported by

Ed Balls Edward Michael Balls (born 25 February 1967) is a British broadcaster, writer, economist, professor and former politician who served as Secretary of State for Children, Schools and Families from 2007 to 2010, and as Shadow Chancellor of the Exc ...

and

Chuka Umunna Chuka Harrison Umunna (; born 17 October 1978) is a British retired politician who served as Member of Parliament (UK), Member of Parliament (MP) for Streatham (UK Parliament constituency), Streatham from 2010 United Kingdom general election, ...

among others in the

UK Labour Party The Labour Party is a political party in the United Kingdom that has been described as an alliance of social democrats, democratic socialists and trade unionists. The Labour Party sits on the centre-left of the political spectrum. In all gene ...

in 2013.See https://www.telegraph.co.uk/finance/yourbusiness/9840679/Labour-Small-firms-need-a-British-Investment-Bank.html

Notes

{{refs

References

*R Skidelsky, ''Blueprint for a British Investment Bank''
2013
Banking in the United Kingdom

See also

Notes

References