The Liberal Democrats will today challenge the government to reveal how much money part-nationalised RBS and rival Lloyds have lent since a state bailout 12 months ago.
The issue threatens to embarrass the Labour Party before an election expected in May if the figures show the banks have failed to meet pledges to boost lending to home buyers and companies by a promised £39bn, Reuters reports. Britain's two largest retail banks signed legally binding agreements last February and March to increase their mortgage and business lending in return for the government insuring £585bn of potentially bad debts. But the two banks have fallen "well short" of the lending agreements, Liberal Democrat treasury spokesman Vince Cable will say in a speech at an event i...
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