Are we really open for business?

Manchester Business School’s Ismail Erturk, Senior Lecturer in Banking, spoke to Channel 4 News about schemes similar to the Government's proposed £1bn business bank.

Mr Erturk told Channel 4 News that while the latest scheme was "institutionally different" from previous models, in substance it was similar.

He said: “The government are saying: 'We don't trust the banks, let us set up our own bank'. British businesses are looking for evidence that whatever they produce will be purchased and the problem is that people are not buying - demand is not there - and creating a bank will not solve the problem. The problem is on the demand side."

Read the full article at Channel 4 News >>