Commercial brokers abandoned by short-sighted government

The government cannot help commercial mortgage intermediaries because it failed to set aside anything for a rainy day, according to the Conservative party.

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At a National Association of Commercial Financial Brokers roundtable event, Mark Hoban MP, shadow minister for the Treasury, and Patrick Frederick, Conservative business relations chairman for the south east, called into question what support commercial mortgage advisers have received.

Mr Hoban said: "Commercial finance brokers are finding it tough at the moment. They and their customers look to the government for support. But the government cannot help because Gordon Brown failed to prepare for a rainy day when the sun was shining.

"Businesses are increasingly looking towards the Conservatives to take the tough long-term decisions needed to make our economy more competitive."

Adam Tyler, chief executive of the NACFB, said small and medium-sized enterprises were the powerhouse of the UK economy but that market conditions have meant that some of these businesses are stagnating because of their lack of access to finance.

He said: "Brokers are on the frontline of business: between the lenders and the business community. They are vital in oiling the wheels of the financial transactions which keep SMEs active and trading."

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