| Updated:
Clegg: bank lending is racist
Deputy Prime Minister Nick Clegg will today suggest that banks are racially discriminating against certain ethnic minorities in their lending decisions and will demand an inquiry into the matter. In a lecture to be give later today, Clegg will claim: “Firms owned by individuals of black African origin have been four times more likely than so-called ‘white firms’ to be denied loans outright… Bangladeshi, Pakistani, black Caribbean and black African-owned businesses have been subject to higher interest rates than white and Indian owned enterprises.”