Budget 2010: Government extends near £50bn lending lifeline to small businesses
The Chancellor has announced new lending targets of £94bn for the Royal Bank of Scotland (RBS) and Lloyds Bank
As part of the Budget announcement, RBS and Lloyds, which are 84% and 41% owned by the taxpayer, must ensure half of the new business loans go to small to medium businesses (SMEs).
Other business highlights included: a one year business rate cut from October to help an estimated 500,000 companies; no change to capital gains tax rates and doubling relief on capital gains tax for entrepreneurs; £2.5bn support for small business to boost skills and innovation and investment allowance for small
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