The chancellor of the exchequer has pledged to help struggling small businesses in the UK by introducing measures that will aid them in securing finance and insurance.
According to a Financial Times article, Alistair Darling is also expected to announce increased funding for plans that will allow such firms to apply for bank loans that carry a 75 per cent taxpayer guarantee.
The measure will see new loans being underwritten and taxpayer guarantees being extended to cover banks lending to small businesses, it is noted.
Meanwhile, David Cameron, leader of the Conservatives, has told the prime minister that many financial services providers were still not lending to small firms.
As a result, he said companies were being "strangled", despite the £37 billion cash injection aimed at boosting the banking sector which was announced last month.
The Telegraph reports that Gordon Brown is currently devising a £5 billion public spending cut to help pay for potential tax cuts.
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