Five years from now, assuming both of those larger players have doubled in size (which I think is very conservative), Sina would have to increase 10x in size to be of equal valuation to them.

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Under one option the Assembly would stick to 40 seats but their boundaries would be changed to ensure seats are roughly of equal size ("what's sauce for the Westminster goose is sauce for the Assembly gander" as Wales Office minister David Jones put it) and 20 members would be elected, as now, via the regional lists.

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This is the proposal that the biggest UK banks should have enough capital, plus loans that could be converted into capital, to cope with losses equal to one-fifth of the size of their total balance sheet.

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