As inflation rockets and recession looms, many British businesses are struggling to secure affordable bank finance, piling pressure on the embattled U.K. government as it unveiled a budget aimed at reviving the economy.
British fruit-grower Hall Hunter is one of thousands of businesses in Britain feeling the squeeze, forcing owner Harry Hall to consider the drastic step of lending to his own successful company to top up its expensive bank lending.
"I'm probably going to be the bank," said Hall, who can't secure a loan product from his bank to offset his high borrowing costs. He said he would likely inject some of his personal wealth into his business to insulate it from inflation rates of 11.1% and a recession that could last up to two years.