P505    Teletext   505 May20 23:10:26
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 BANK LENDING HITS A TROUGH             
                                        
 Lending by banks and building societies
 to the private sector was extremely    
 subdued last month but economists were 
 reluctant to blame tax rises.          
                                        
 Bank of England data showed M4 lending 
 rose £0.5bn on April 1993, well short  
 of the expected £2bn.                  
                                        
 The weak figures may be partly dui to  
 huge debt repayments by the corporate  
 sector, particularly securities dealers
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