The reputation of Britain's banks will take a fresh battering when the deputy prime minister accuses them of discriminating against members of ethnic minorities in the way they distribute loans and set interest rates.
He will say: "Britain's banks, bailed out by the British people, have just as much responsibility as everyone else, arguably more responsibility, to help Britain build a strong and dynamic economy. Unleashing black and ethnic minority talent is their duty too."
His remarks are likely to provoke a terse reaction from the banks, who feel they are under constant attack from the coalition over the way in which they support industry.
"We know that 35% of individuals from black African origin say they want to start a business, but only 6% actually do. Are they having problems accessing the loans they need?" he said.
"Past evidence shows that firms owned by individuals of black African origin have been four times more likely than so-called 'white firms' to be denied loans outright. And that Bangladeshi, Pakistani, black Caribbean and black African owned businesses have been subject to higher interest rates than white and Indian owned enterprises." Full story/source