Funding for Lending to Boost Businesses and Create Jobs in the Trades
The scheme will deliver economic growth and increase infrastructure investment to the UK which will create jobs for trade professionals including electricians, plumbers and gas engineers.
Mr Osborne said: “Today’s announcement aims to make mortgages and loans cheaper and more easily available, providing welcome support to businesses that want to expand and families aspiring to own their home.”
It is expected that banks currently offering loans through the National Loan Guarantee Scheme (NLGS) will continue to offer their NLGS branded product.
The Chancellor said: “The NLGS has made a real difference, with over 16,000 cheaper loans worth over £2.5bn already offered to businesses across the UK. In many cases, the money saved has meant an extra person employed who otherwise still might be looking for work.
“The more generous FLS has officially opened for business and will in time effectively take over from the NLGS, delivering credit easing to the whole economy.”
Do your predictions correspond to Chancellor’s indications for economic growth and more jobs? What do you think about the FLS? Share your thoughts by commenting here or raising your voice on our Facebook and Twitter page.
Posted on August 2, 2012, in Affordable housing, Building Construction Industry, Building Engineering Sector, Business, Construction, construction jobs, DIY, electrician, electrician jobs, Employment, Government, Infrastructure, Osborne, plumbing jobs, Plumbing News, Politics, t4ts, train4tradeskills, Train4TradeSkills News, UK Economy and tagged Bank of England, British banks, building firms, Business, business confidence, business lending, Chancellor, Cheaper loan rates for businesses, economic boost, Economic growth, electrician, employment opportunities, Eurozone, FLS, Funding for Lending, Gas engineers, George Osborne, Government, houses, Investment scheme, jobs, Loan, low-cost funds, mortgages, new homes, NLGS, plumbers, Quantitative easing, returning confidence, t4ts news, train4tradeskills, train4tradeskills news, Twitter. Bookmark the permalink. Leave a comment.