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FLS 'may not be enough'

The Engineering Employers Federation (EEF) has warned that the launch of the Funding for Lending Scheme (FLS) may not be enough of a boost for firms that are having difficulties accessing finance.

HM Treasury has opened the FLS window - and it will provide cheaper borrowing rates to building societies and banks for 18 months, with strong incentives to lend to enterprises.

The EEF is not the only organisation to express concern with the FLS, as director-general of the British Chambers of Commerce John Longworth called for the creation of a state-backed business bank to bolster support for new firms.

Director of policy at the EEF Steve Radley added that the government needs to do more to boost awareness of the FLS.

"If we're really serious about bringing investment forward now when we need it most, we should be pulling out all the stops and beating the drum as loud as we can," he continued.ADNFCR-1898-ID-801421626-ADNFCR

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