EEF NW comment on Bank of England Credit Conditions survey

Commenting on today’s Bank of England Credit Conditions survey, Darrell Matthew, North West Region Director at EEF, the manufacturers’ organisation, said: “The Bank’s latest survey brings some more encouraging news on lending for smaller companies, with further improvements in availability of credit and a reduction in spreads.

"If we take this together with other surveys such as our own Credit Conditions Survey and the SME Finance Monitor there would appear to be more evidence that Funding for Lending is make its presence felt amongst SMEs.

“With stronger growth and a more positive outlook, the prospects for an investment recovery should be looking better.

"Funding for Lending interventions are an important part of the solution, but we still need to see a more dynamic and diverse funding environment for SMEs with providers competing hard to support UK investment.”