UK KfW: right answer, wrong question

06 Sep 2012

Plans for a UK version of KfW are intriguing, but the government is missing the point. British industry is not thirsting for cheaper funding or easy credit. What a properly run small business bank could bring to Britain is something much more valuable.

Why doesn’t the UK have a development bank like Germany’s KfW? It’s a question many in the capital markets must often have asked — and it’s a good one. Now George Osborne, chancellor of the exchequer, has begun to offer an answer.

On Sunday he announced plans for a ...

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