Very nice George Osborne – small business will be happy. I am searching for the catch as the devil is always in the detail. Firstly, the example on the BBC website is a business with a £50m loan. Fifty million quid ain’t small , and secondly it is for businesses turning up to £50m per annum. Hmmm. How many banks would lend such a business £50m? Indeed not many. Secondly, who is paying for this – is there an indemnity fee payable? Lastly, whst happens if there is a default on Fred’s Chippy – will it be nationalised?

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