Liberal Democrat Treasury spokesman Vince Cable yesterday advised that banks should be broken up and forced to lend.He said whichever party is elected to government this year must make sure there are more stringent measures enforced on the banks, making it mandatory for them to lend a helping hand to the UK's smaller businesses.He said the banks failure to lend to small firms was having a detrimental effect on the economic recovery. Britain has been one of the last "rich nations" to officially exit the recession.While many of the banks insist that they are in fact lending again, Mr Cable argues that the evidence is to "the contrary". He added that most small and medium-sized businesses "never indulged in the overleveraged excesses seen in the domestic property market or by major commercial property developers", yet they are being penalised financially. Mr Cable also called for a reform of the current bonus culture, which sees billions of pounds handed out as a financial reward to investment bankers every year in addition to their high-rate salaries.His proposals echo that of US president Barrack Obama who called for the biggest banks to be disseminated so they are not "too big to bring down".For free advice on how to make a PPI Claim – Payment Protection Insurance claim or a credit card charges claim then call Belmont Thornton on 0845 526 0000 or fill in the Quick Claim form to be sent a free PPI Claim pack or credit card charges claim pack.
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