The Bank of England and the UK Treasury have announced that the Funding for Lending program will be extended through February 2015, a year longer than previously agreed upon, reports ThisIsMoney.co.uk. The Funding for Lending is a scheme that allows for banks and building societies to receive cheap funding on the basis that they must then lend this to individuals and businesses. The program was created with the intent to help put more money towards lending for small firms. Despite a year extension, there has been debate as to whether or not the program is increasing net lending.
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