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We now own less than 20% of Lloyds

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Government sells shares

The government has sold more of its shares in bailed-out bank Lloyds, it has been confirmed.

Lloyds was bailed-out by the taxpayer to the tune of £20bn in 2008, with the government owning 40% of the business.

But so far we’ve only received £10bn through sales of shares and we still have a 19.93% stake in the bank.

The latest round of share sales returned £500m to the taxpayer, showing “the further progress” made in returning to the bank to “full private ownership and enabling the taxpayer to get their money back”, a Lloyds spokesperson said.

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