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U.K. Banks May Face Tax For Lending Too Little

U.K. banks that fail to meet their pledge to lend more could face additional taxes, David Cameron, the British prime minister, hinted at a parliamentary committee meeting, reports Reuters.

U.K. banks that fail to meet their pledge to lend more could face additional taxes, David Cameron, the British prime minister, hinted at a parliamentary committee meeting. Under an agreement called Project Merlin, banks committed to certain lending levels in exchange for the government not imposing new taxes on them. “So if they don’t fulfill their side of the deal,” Cameron said, “then clearly the government wouldn’t have to fulfill its side of the deal.”

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