November 20, 2017 / 3:19 PM / 10 months ago

UK increases size of bank lending stimulus plan

LONDON, Nov 20 (Reuters) - Britain will increase the size of a programme intended to encourage banks to lend to businesses and home-buyers, finance minister Philip Hammond said on Monday.

Hammond authorised a Bank of England request for a 25 billion-pound increase in the maximum size of the Term Funding Scheme which previously stood at 115 billion pounds ($152 billion). ($1 = 0.7551 pounds) (Reporting by William Schomberg, editing by David Milliken)

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