The former John Lewis boss warned that wages, productivity and employment in Britain are all at risk because investment is stalling
Jeremy Hunt must tell banks to help businesses struggling with high interest rates, Andy Street has said.
The former John Lewis boss and mayor of the West Midlands said wages, productivity and employment were at risk because business investment is stalling in Britain.
He called for banks to launch a new scheme modelled on relief for struggling mortgage holders, aimed at lowering the cost of business loans.
The Treasury should ask lenders to take “a very understanding approach to repayments” in an attempt to change “the whole attitude of the banking sector to cashflow difficulties,” he said.