Chuka Umunna MP, Labour’s Shadow Business Secretary, responding to Vince Cable on lending to businesses, said:

"Vince Cable's comments today only serve to highlight the Government's failure to get lending going to businesses - the wealth creators who we need to drive growth and job creation to revive the flatlining economy.

"Net lending has fallen by £18.6 billion in the last year and even BIS ministers now concede that their Funding for Lending scheme has failed to help firms struggling to access the finance they need.”