Peter Mandelson announces help with Finance

Peter Mandelson, Secretary of State for Business, Enterprise and Regulatory Reform, announces the launch of a package of support to address the cash flow, credit and capital needs of businesses.

This package operationalises and builds upon the commitments made in the Pre-Budget Report, providing:

- £1bn of guarantees supporting £1.3bn of lending to smaller businesses;
- Up to £10bn of guarantees supporting £20bn of working capital
- £75m capital (£50m from HMG and £25m from banks) fund to invest in businesses who need equity or quasi equity

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