Ah, at last the ‘Confederation of Bankers’ Interests’ breaks cover!

 

“Cash-strapped small firms cannot rely on banks to provide them with the money they urgently need to grow”. So says John Cridland, Director General of the CBI.

I think you’re missing the point here, Mr Cridland. Cash–strapped businesses are not interested in growing, they’re in the business of survival. Isn’t one of the main reasons why these businesses are so ‘cash-strapped’ because of the less than helpful behaviour of banks? I would doubt if there’s hardly an SME in the land that hasn’t had their overdraft facilities reduced, their banking charges increased and found it nigh on impossible to negotiate any new loan at anything other than a usurious rate of interest.

This has been going on since the 2008 crash, Mr Cridland and you’ve hardly said a word. I wonder why? Could it be that you really have become the Confederation of Bankers’ Interests? After all banks are members of your organisation and a vital source of revenue. They’ve got you by the short and curlies, haven’t they? Bankers populate all your committees. They ‘keep an eye’ on what’s being said. Their ‘presence’ helps keep the lid on any open dissention from members. They keep you from saying what needs to be said, don’t they Mr Cridland?

You also say that, “For too long, the UK’s small and medium-sized firms have relied heavily on banks for most of their credit.” You’re right, but I’m suspicious about the timing of this remark. Did the banks put you up to this in order to take some of the pressure off them? You see, your close association with the banking fraternity raises too many questions, and that’s not how it should be.

The biggest question of all?  Can you be trusted to represent the interests of British industry?  A question the SME members of your organisation would be wise to ask themselves before they renew their subscription.

Isn’t it about time you denied CBI membership to the banks and became an organisation that genuinely represented British industry? I think the time has come. Are you up for it? I wonder.

 

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