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We need to know the details of the Project Merlin deal

Chancellor George Osborne has reached a deal with major banks to raise business lending by £10bn this year.

Osborne says Project Merlin, which involved discussions with Santander, HSBC, Royal Bank of Scotland and Lloyds Banking Group, will mean £76bn of small and medium-sized enterprise lending.

That represents an increase from £66bn in 2010 and Osborne says this is higher than banks were planning on their own.

What are the details of this supposed deal and what are the banks getting in return? What will happen to banks that fail to meet these agreed lending quotas?

What about a deal on residential lending with penalties imposed on banks who don’t meet agreed lending targets?

Any anger and retribution is borne out of the complacency of banks, particularly those under government ownership and the failure of subsequent governments to act.

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Go the extra mile for protection cover

As retailers come up with innovative pricing deals to lure consumers in and keep business going, the protection market is also having to work harder to get business through the door. Protection providers will always aim to be price competitive but it would be dangerous to rely on price promotion alone. The core focus should […]

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Jelf Employee Benefits closely examines healthcare provision and challenges within Nigeria. This will be of particular interest to HR decision makers with employees based in Nigeria, and assesses the environment, risks, facilities and safeguards that are relevant to organisations that are actively deploying expatriate staff in this location.


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