Vince Cable: not a man to be hurried
Great news from Vince Cable:
Well today I will be speaking at the annual conference for the Community Development Finance Association (CDFA) to show how Government funding is supporting their members to meet the growing demand from small business for alternative sources of finance.
The association will receive £30m from the government’s Regional Growth Fund (RGF) which has been matched with a further £30m by the Co-operative Bank and Unity Trust Bank to provide lending to small, micro and social enterprises.
Erm, except that this RGF grant was allocated, and announced to great fanfare, some 18 month ago, in April 2011:
The Community Development Finance Association (CDFA) has been awarded a £30m grant, and a £30m loan from two high-street banks, as part of the first funding round from the government’s £1.4bn Regional Growth Fund scheme.
18 months – quite a long time when there’s no economic growth.