I write in response to an article in yesterday’s Scotsman Swinney attacked on loan fund plan as calls come for OFT to probe banks.

 

The delay in funds from the Scottish Investment Bank (SIB) can only add to the woes being faced by Scotland’s small businesses. Just six weeks ago, Alex Salmond said the Government was “acting decisively” by opening up these funds and that banks should follow suit. Where is that decisive action now and what sort of message does this send to the banks?

 

Lending to small and medium-sized businesses is vital to the country’s hopes.  The recession has officially been over for months now, however many small businesses are still not seeing any light at the end of the tunnel.

 

The SIB was seen as a ray of hope for those struggling to keep their heads above water, let alone grow, that hope has now been severely dimmed.

 

Yours faithfully