During June, we now know, consumer confidence dipped, business lending fell and the trade deficit widened.

The banks' share of business lending has slipped from four-fifths, to two-thirds, since the early 1970's.

Only the Pacific states have been spared a net decline in business lending.

No wonder businesses feel banks have adopted a 'take it or leave it' approach to small business lending.

This caused a deflation of the money available for business lending.

That practice is widespread in business lending but not in credit cards.

Both banks have focused on business lending, although of late they have been trying to build their consumer businesses.

We hope that this could be helpful to lenders in learning about opportunities to partner with states to provide small business lending.

I congratulate the Commission on its progress in dealing with the issue of small business lending.

Worst hit was business lending (excluding leasing) which fell by 26% during 1991 to £4.3bn.