Stefan Topfer, CEO of WinWeb, today appeared on CNBC’s Strictly Money program to discuss the Bank of England’s decision to pump an extra £25bn into the UK economy in the quantitative easing program, while leaving the base rate unchanged.
The Bank of England has already invested £175bn in it’s quantitative easing campaign, which involves printing money so it can buy assets belonging to other banks and companies in an attempt to stimulate the economy.
During the discussion, Stefan explained how the money invested does not get through to small businesses who need it the most, despite over 50% of employment in he UK coming via small businesses. Small business effectively pays double the interest rates that businesses had to pay 12 months ago, this has a devastating impact on SMEs.
Watch the full interview @ CNBC Strictly Money
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