Bailout,UK: Politics Real Time News items

• UK's Darling signals 2009 budget to be light on stimulus - reportPosted:17/07/2009 18:18 GMT by NeedToKnowNews
  The UK government's 2009 budget will be light on fiscal stimulus as the authorities wait for previous measures to work through the system, finance minister Alistair Darling signalled. The Financial Times said Darling made it clear in a speech yesterday that the focus would be on implementing tax reductions and boosts to government spending that have already been announced. The budget will be published on April 22, delayed due to the government preparing for the upcoming G20 summit in London. Full story here: http://www.ft.com/cms/s/0/3d12fbec-0e89-11de-b099-0000779fd2ac.html?nclick_check=1
• UK govt to ringfence GBP13bln for infrastructure projectsPosted:09/07/2009 19:51 GMT by NeedToKnowNews
  The Treasury said it will ringfence GBP 13bln of public funds to lend to companies struggling to finance public infrastructure projects under the PFI (private finance initiative) scheme. The government funds will be available for companies to borrow in the event they cannot secure the financing they need elsewhere, said Yvette Cooper, Chief Secretary to the Treasury.
• UK's Darling: Insuring banks' assets is key to recoveryPosted:10/07/2009 5:36 GMT by NeedToKnowNews
  Alistair Darling, the UK Chancellor of the Exchequer, said the government plan to insure banks' illiquid assets - dubbed the asset protection scheme - is a key element for the recovery of the UK financial system. "The task is for banks to clean up their balance sheets and rebuild for the future," he wrote in the Financial Times. Darling argued that UK banks should not be fully nationalised. "That will make it easier for current and future investments in these banks to be returned to full commercial operation," he said. The UK state owns controlling stakes in RBS and Lloyds Banking Group.
• UK's Mandelson: SME Plan Addresses Problem at Heart of Credit CrunchPosted:09/07/2009 11:16 GMT by NeedToKnowNews
  Lord Mandelson is the Business Secretary. He said the government will do "everything it can" to support viable companies.
• UK Govt Unveils GBP 20bln Plan to Boost Lending to SMEsPosted:10/07/2009 0:42 GMT by NeedToKnowNews
  The scheme includes GBP 50mln of goverment funds to invest in SMEs in need of capital, as well as funds to guarantee short-term lending and other bank loans to small businesses.
• UK Govt: Soon to Unveil Measures to Help SMEs With Credit Posted:09/07/2009 11:47 GMT by NeedToKnowNews
  No blanket guarantees on credit are to be expected.
• UK FinMin Darling: Will Do Everything Reasonable to Help Auto IndustryPosted:18/07/2009 19:42 GMT by NeedToKnowNews
  Darling added however that companies' owners bear the chief responsibility for maintaining funding.