Darling defends credit adjudication service

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Darling defends credit adjudication service

Simon Quicke

The Chancellor Alistair Darling has restated his view that a credit adjudication service is one of the best ways to help SMEs get their hands on funds.

Speaking last night on the Channel 4 Chancellor's debate Darling faced the inevitable question on SME loans and disagreed with his counterpart Shadow Chancellor George Osborne over how credit could be increased.

The Credit Adjudication Service, an independent third party that could review SME applications for loans that had been turned down, was one of the main announcements in last week's budget.

Last night Osborne talked of introducing bonus curbs and more pressure on the banks as a way of getting money out to those small businesses that were in need of credit.

But Darling said that the adjudication service would help small companies and the idea had worked well in other countries.

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