Funding scheme to be expanded

Tim Wallace
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THE BANK of England is today expected to extend the Funding for Lending Scheme for a longer period of time and to a wider variety of lenders in a renewed effort to increase lending to businesses.

The scheme was launched last August and gives banks and building societies cheap funds to lend on to businesses and households. It was originally intended to run for 18 months, but is now likely to be extended for another year.