Bank lending to businesses would continue to be available to “supportable propositions” on fair terms, Stephen Hester, chief executive of Royal Bank of Scotland, told CBI members.
His assurance came as Sir Stuart Rose, chief executive of Marks and Spencer, told the conference he believed the economy had hit bottom and there were “fairly secure foundations” for recovery. Sir Stuart said: “Nobody doubts the patient is sick. The global patient is sick. The UK patient is sick. It’s a question of which medicine and how much to give it. It seems to me around this room most people think more medicine and more quickly.”
