The chief executive of Lloyds Banking Group says confidence in the UK economy is waning among businesses, with a number of issues “gumming up” the system and preventing companies from investing.
Speaking at the FT and The Banker’s Global Banking Summit, Charlie Nunn said that although Lloyds had grown its “sanctioned lending” — approved lending to businesses — by 20 per cent year on year, the majority has not been drawn down.