“One part of Alastair Darling’s Budget that appears to have received little attention from the media is his plan for a ‘Credit Adjudication Service’. This new body, it appears, will provide an appeals process for small and medium businesses that have been denied credit by banks.
Regardless of the fact that, according to the British Bankers’ Association, 85% of credit requests by small and medium businesses are already granted, how can a free banking market exist when a government appointed body can call into question the economic decisions of a bank manager?” Read more.
Politicising money lending is not the path to prosperity
IEA blog, March 29, 2010.