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Oakeshott: ‘ . . a sharp rise in unemployment this winter is set in stone . . ‘

November 18, 2011 10:20 AM

• [Nov 17] Matthew Oakeshott* writes: SORRY, I'm not a Liberal Democrat Treasury spokesman (Editorial, 17 November), since I resigned over Project Merlin in February. Net bank lending to SMEs is now down 5 % year on year and a sharp rise in unemployment this winter is set in stone. It will be much worse next winter unless the banks we own, but don't control, lend more to small businesses and we jump-start affordable house building from construction's 90-year low.

* Lib Dem, House of Lords

• Guardian Letters, Nov 17

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