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Banks agree lending and bonus deal

A long-awaited agreement with the largest UK banks on lending, bonuses and transparency has been announced today by the government.

Banks will lend approximately £190bn to businesses this year, with £76bn of this total going to small firms - and reveal salaries details of top earners.

The Bank of England will monitor whether loans targets were being met.

Despite pressure from Labour however, Chancellor George Osbourne ruled out the imposition of a bonus tax.

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Post Date: February 9th, 2011