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Boris Johnson hosts emergency summit with major banks
Pippa Crerar05.12.08
Boris Johnson has hosted an emergency summit with Britain's major banks to discuss a rescue plan for struggling small businesses in the capital.
The Mayor met representatives from banks including Barclays, RBS, HBOS and Lloyds TSB to persuade them to give firms better access to credit during the economic downturn.
Many small businesses have struggled to cope with the increasing cost of commercial borrowing and new tighter lending criteria.
The banks agreed to work with the Mayor's London Development Agency to develop a programme of support for firms but there was little detail of exactly how this would be done.
Mr Johnson said: "Their agreement to work with the London Development Agency is very good news."
