New business bank to start

Tim Wallace
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THE GOVERNMENT’S new business bank will start investing in small firms next month as part of the state’s strategy to take over lending in sectors that banks are no longer interested in.

An extra £1bn of taxpayers’ money is being combined with £2.9bn of existing business schemes, with the first £375m-worth being launched in April. Sectors like green energy and technology startups are expected to be beneficiaries.

The funds will be invested either directly into firms, through loans for banks to lend on, or through loan guarantees.