Additionally, the guarantee fee (usually 1-3 % of the loan amount) was no longer waived, which increases the cost of taking out a loan.

FORBES: Small Business Lending Drops In April

Clearing houses enable the trading of shares between two parties, charging a fee to guarantee the sales should one side default.

BBC: LSE agrees LCH Clearnet deal at lower price

However, Mr Miliband refused to guarantee that the tuition fee cap would be in Labour's manifesto for the next general election in 2015.

BBC: Tuition fees: Labour pledges maximum cap of ?6,000