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Coalition government set to increase bank loan targets

It is believed that the Conservative/Liberal Democrat coalition government is looking to increase loan targets previously set by the Labour government. While bank shares heaved a sigh of relief today with many believing that plans by the new government could have been far harsher there is still some concern about a potential banking levy, legislation to control remuneration as well as the likely increase in loan targets.

Vince Cable, the deputy leader of the Liberal Democrat party, has been installed as Business Secretary in the new coalition government and will likely be given the task of introducing new legislation in relation to the UK banking system. Vince Cable has long been an advocate of a banking tax or banking levy in the UK as well as increased regulation of banking activities and remuneration. He will be given the opportunity to flex his muscles and uses negotiating powers over the weeks and months ahead in what will be a very challenging period for the well respected MP.

We are likely to see an increase in legislation in relation to the UK banking sector, more than would have likely been introduced by the Conservative party alone, but ultimately the banking sector reacted positively as the situation could have been much worse.

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