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CBI calls for new mid-sized bond market
THE CBI is calling on the UK government to remove barriers to non-bank finance by creating a mid-sized bond market with tax breaks for investors.
In its submission today to the review led by Tim Breedon into alternative sources of debt, the business group will say that improved access to more varied sources of finance would help small and medium-sized enterprises and the wider economy.
CBI director-general John Cridland said: “The UK’s small and medium-sized companies have relied heavily on banks for most of their credit. If we do not act quickly to increase the range of available finance, other countries will steal a march on the UK.”
He said opening UK bond markets to medium-sized businesses would help SME’s to find finance that was right for them, aiding growth and supporting the recovery.
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