Chancellor Alistair Darling has warned that securing a loan will become more difficult in the coming months due to the credit crunch, but believes the UK’s economy should be able to weather the storm. Speaking on BBC Radio 4’s Today programme, Mr Darling said: “I think banks will be more cautious about their lending and indeed when it comes to revisiting some of the more foolish lending in the US sub prime market that’s no bad thing. As I said before, people should be cautious about lending money if they can’t be sure they would get that money back. Because of what has happened, there is bound to be more caution in relation to lending.” Mr Darling went on to explain that the prospects for growth in the UK economy were good and that its momentum was strong enough to see it through the crunch.
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