BBC NEWS Gordon Brown has said he believes the credit drought will "start to ease" in the next few months as banks increase their lending to businesses.
Mr Brown said recent agreements with RBS and Lloyds Banking Group meant they now had a "duty" to lend more freely.
Ministers were working "night and day" to fix the banking system whose failure was "rather unique", he told the BBC.
Mr Brown said he took "responsibility" for the state of the economy but said the crisis was global, not domestic.
In an interview with BBC Radio 4's You and Yours show, Mr Brown said he would not "shy away" from any of the decisions he had made over the last 11 years as chancellor and prime minister.
"I take full responsibility for what happens but what I can't say to people is that the cause of the crisis is something that happened within Britain alone," he said.
"This is something which happened right round the world. We can't find a solution unless we know we have got to sort out the banking system right across the world."
Responding to accusations that banks were still not lending despite getting billions in taxpayer support, Mr Brown admitted the amount of credit available was not "enough".
The lack of credit was a "real, real problem" and was affecting all areas of industry.
Oh, well that’s alright then.
“Men are in numberless instances qualified for certain things, for no other reason than because they are qualified for nothing else.” William hazlitt
Angus
Angus Dei on all and sundry
NHS Behind the headlines
NHS-THE OTHER SIDE
Mr Brown said recent agreements with RBS and Lloyds Banking Group meant they now had a "duty" to lend more freely.
Ministers were working "night and day" to fix the banking system whose failure was "rather unique", he told the BBC.
Mr Brown said he took "responsibility" for the state of the economy but said the crisis was global, not domestic.
In an interview with BBC Radio 4's You and Yours show, Mr Brown said he would not "shy away" from any of the decisions he had made over the last 11 years as chancellor and prime minister.
"I take full responsibility for what happens but what I can't say to people is that the cause of the crisis is something that happened within Britain alone," he said.
"This is something which happened right round the world. We can't find a solution unless we know we have got to sort out the banking system right across the world."
Responding to accusations that banks were still not lending despite getting billions in taxpayer support, Mr Brown admitted the amount of credit available was not "enough".
The lack of credit was a "real, real problem" and was affecting all areas of industry.
Oh, well that’s alright then.
“Men are in numberless instances qualified for certain things, for no other reason than because they are qualified for nothing else.” William hazlitt
Angus
Angus Dei on all and sundry
NHS Behind the headlines
NHS-THE OTHER SIDE
2 comments:
Does he really think anybody believes him any more? I like the Hazlitt quote.
It,s a shame really I think he does.
Hazlitt hit it right on the head:)
Post a Comment