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Stock impact report

Lloyds boss defends banks after Farage threatens tax raid [Yahoo! Finance]

Lloyds Banking Group Plc American Depositary Shares (LYG) 
US:NYSE Investor Relations: lloydsbankinggroup.com/investors
Company Research Source: Yahoo! Finance
Charlie Nunn said that any attempts to weaken banks risk unintended consequences for the economy , pointing to the key sources of lending that Lloyds provides to households and businesses. He said: “A strong economy needs strong banks. “We're very committed to increasing access to first-time buyers, increasing access to borrowing and lending to SMEs [small and medium-sized enterprises] to drive growth. We need a strong banking sector to support that.” It is the first time that Mr Nunn has responded publicly to Mr Farage's threats The Reform UK leader has claimed his party would scrap interest payments that British lenders receive through the Bank of England's quantitative easing programme. Speaking at the World Economic Forum in Davos last week, Mr Farage sought to justify Reform's proposed policy by saying he doesn't like banks because his account had been closed by Coutts Reform has claimed the policy would bring in up to £40bn for taxpayers. Mr Farage said: “We are g Show less Read more
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