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The CBI commented on the latest Funding for Lending Scheme (FLS) data published by the Bank of England.

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Matthew Fell, CBI Director for Competitive Markets, said:

"Although overall net lending remains positive, lending to businesses is still subdued so it’s right the Funding for Lending Scheme is now focussed squarely on business lending. The increase in confidence among small and medium-sized businesses should soon translate into greater demand for finance and it’s important this is met by the FLS.

"To ensure that business’ appetite for investment is supported, we’re calling on the Chancellor to use his upcoming Budget to continue the Annual Investment Allowance at its current higher rate."