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.