George Osborne boosts funding for lending scheme before IMF visit

Chancellor to beef up £80bn loans scheme amid US calls for Britain to tone down austerity measuresGeorge Osborne will announce an expansion of the Bank of England’s £80bn funding for lending scheme (FLS) ahead of a visit to Britain by the International Monetary Fund next month, as he seeks to head off calls for a […]
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George Osborne boosts funding for lending scheme before IMF visit

Chancellor to beef up £80bn loans scheme amid US calls for Britain to tone down austerity measuresGeorge Osborne will announce an expansion of the Bank of England’s £80bn funding for lending scheme (FLS) ahead of a visit to Britain by the International Monetary Fund next month, as he seeks to head off calls for a […]
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Small business lending stagnates as UK construction output shrinks

Downbeat data revives recession fears as Bank of England’s monetary policy committee kicks off two-day talksBritish small business lending has remained stagnant and the construction sector shrank again, data shows, reinforcing a downbeat outlook for growth as the Bank of England starts its two-day policy meeting.Sharp falls in construction output were largely responsible for the […]
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Libor regulations agreed after rate-rigging scandal

Government introduces statutory regulation for key inter-bank lending rate amid fears further banks could face fines for riggingSweeping changes to the system of financial regulation, which took effect on Tuesday, has brought the London inter-bank lending rate under the net of statutory regulation for the first time.The government introduced formal regulation for Libor after the […]
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Financial policy committee identifies £25bn capital shortfall in UK banks

‘Honest’ assessment of hidden losses sparks row with business secretary Vince Cable – who argues banks should not be forced to raise fresh capital in recessionBank of England policymakers have warned that UK banks need to find additional capital of £25bn, immediately sparking concerns by the business secretary over the potential impact this might have […]
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Lending banks: which are the biggest?

The Bank of England’s fund for lending scheme figures reveal Barclays lent by far the most, followed by Lloyds and NationwideIf Bank of England governor Sir Mervyn King is right in his assertion that the strongest banks are the ones still lending, then a look at the Bank’s own figures on its funding for lending […]
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Mortgage lending stalls over six-month period

BBA figures show average net lending for past six months is £0 – with repayments outweighing new lending by £982m in FebruaryMore mortgages were repaid than taken out in February, in a worrying sign for the government which is trying to kickstart the moribund housing market.Mortgage lending slumped by the biggest monthly amount in more […]
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Barclays faces new questions over lending to small firms

Loan under Small Firms Loan Guarantee scheme to be further investigated after intervention by business ministerThe government is extending its investigation into Barclays’ involvement in a state-backed loan scheme, after the business minister, Michael Fallon, intervened.The bank faces renewed questioning over its use of the now defunct Small Firms Loan Guarantee programme after evidence emerged […]
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Budget 2013: 450,000 small firms exempt from national insurance

George Osborne introduced a £2,000 employment allowance, which allows a third of all employers paying ‘no jobs tax at all’Up to 450,000 small businesses will no longer pay national insurance contributions from next year, the chancellor claimed on Wednesday in what he described as “the largest tax cut in the budget”.But even as George Osborne […]
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RBS branches to receive £700m cash injection

State-backed bank says money will be spent on refurbishing its 2,066 branches and improving customer servicesRoyal Bank of Scotland is to invest £700m between 2013 and 2016 in improving its branches as part of a shift in focus towards its domestic lending business.The state-backed bank, which owns NatWest and Ulster Bank, said the money would […]
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