Petition Abolish the British Business Bank

The British Business Bank claims to address market imperfections so viable small businesses can get the finance they need to grow and thrive.

This is undertaken in conjunction with selected private sector partners, who profit from providing funding services. The selected peer-to-peer lending partners are only large firms. Spot the irony!?

Tax-payers money is being wasted.

The SME should be entitled to government co-funding irrespective of their funding provider.

The execution of this well-intended policy is distorted to the benefit of the financial institutions who are more supported than the SME's for which the policy was intended.

This is the worst attempt to help SMEs since project Merlin. The support either needs to become platform agnostic or the organisation needs abolishing.