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UK Banks turn the screw on UK businesses

In what is fast becoming a very serious situation for the UK government and UK businesses it has been revealed that many banks in the UK are rejecting calls for increased overdrafts and increased funding even for viable businesses. Indications are that a lack of liquidity in the UK money market, concerns of further significant write-offs and fears that the UK economic upturn may not be as straightforward as many believe have seen UK banks retreat back into the trenches.

This is despite the fact that UK taxpayers, via the government, have injected billions upon billions of pounds into the UK economy in the hope of greasing the wheels of industry. Even though the UK economy has shown signs of life over the last few weeks, an increase in liquidity is vital for the future as this will be the food which feeds the UK economic revival. Without liquidity there is the potential for the ongoing UK recovery to stall and even go into reverse with potentially disastrous consequences for the economy and UK government borrowing.

The UK government and UK regulators need to find a way to increase liquidity in the money markets as soon as possible otherwise "there may be trouble ahead".

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