Lloyds Banking Group share sale cuts taxpayers’ stake to under 8 per cent

Lloyds Banking Group share sale cuts taxpayers’ stake to under 8 per cent
 

It means the taxpayer's stake in the bank now stands at 7.99 per cent, with more than £17 billion being returned to Government coffers since the lender's £20.3 billion bailout. 
Philip Hammond said: "Selling our shares in Lloyds Banking Group and making sure that we get back all the cash taxpayers injected into it during the financial crisis is one of my top priorities as Chancellor."  
All proceeds from the sales will be used to reduce the national debt.
The Government has progressively sold down its original 43 per cent stake in Lloyds and in October ditched plans for a share... read more

 
22 November 2016 in Business, Views: 34
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