Neil urges Chancellor to be tough on banks

Neil Parish has written to the Chancellor of the Exchequer, Rishi Sunak, as well as the major banks, to insist on better loan terms for businesses. 

Whilst Neil welcomes the quick and unprecedented action the Chancellor has taken in recent weeks to protect jobs and businesses, there have been too many reports of banks not doing their bit and lending responsibly. Examples include inflated interest rates and requirements for personal guarantees on property. In his letter, Neil points out that it was the British taxpayer who bailed out the banks in 2008 and the public's patience with major banks is running thin. Neil is clear that this is not an opportunity for banks to make a quick buck, but to show leadership and social responsibility in a time of crisis.