Ed Balls
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Ed Balls mocks Chancellor's Merlin announcement

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

Under Project Merlin, banks will lend about £190bn to businesses this year - including £76bn to small firms - and reveal salary details of top earners.

Shadow chancellor Ed Balls accused George Osborne of "putting politics ahead of economics".

  • 09 Feb 2011