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Lending Bank For Cornwall

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4:20pm 24th September 2013

As Labour pledges to cut rates for small businesses, plans are revealed for a new lending bank for Cornwall.

More than a hundred million pounds of European money could be pumped into the scheme.

It will let small firms borrow cash to get set up and keep the funds in the local economy.

Duchy MEP Graham Watson told Pirate FM: "I would of course want to know that this has broad support from the business community. What we don't want to be doing is setting up another institution which in itself will cost money. We want to be getting all of the money available into local businesses.

"I welcome anything that will help us get European money quickly in to local businesses in Cornwall to create jobs and help them invest in future prosperity."

4:20pm 24th September 2013

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