Government reduces Lloyds shareholding to below 9%
The government has made further sales of its shares in Lloyds Banking Group, reducing its remaining shareholding to less than 9%.
"Selling our shares in Lloyds 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."
The latest tranche of share sales, conducted via a trading plan, means that the government has now recovered nearly £17 billion of the £20.3 billion taxpayers injected into Lloyds during the financial crisis, once share sales and dividends received are accounted for.
Chancellor of the Exchequer, Philip Hammond, said:
"Selling our shares in Lloyds 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.
"That is why I am pleased that we have reduced our stake in Lloyds and recovered nearly £17 billion for the taxpayer."
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