In a speech to assembled Lloyds Banking Group staff in Birmingham, Chancellor George Osborne thanked employees for putting up with "difficult decisions" and job restructuring since the 2008 government bailout.
On the Government's six per cent share sale today, the Conservative said that the Treasury achieved a "good price", making a £61 million profit for the taxpayer.
Lloyds Banking Group chief executive boss António Horta-Osorio added that he is "delighted" the Government has taken the opportunity to start selling its bank stake.
Today, in many ways, marks the beginning of the end of the financial crisis. It's symbolic because shares in Lloyds Banking Group have risen enough to allow the Government to make a small profit on the six per cent stake it sold off today.
This is the first payout for taxpayers following the 2008 bailout of Lloyds bank, which of course was carried out by the Labour government at the time and they're now claiming vindication of that policy.
However, taxpayers still have a significant stake of more than 30 per cent in Lloyds.
There's a political angle going on here too and the Chancellor, George Osborne, is trying to keep this momentum flowing in his party's direction following his recent speech in which he stated that the economy had turned the corner.
– Treasury Chief Secretary, Danny Alexander
I think that what it shows is that our economy is turning a corner, that we are now in a position where overseas investors and others are looking to invest in British banks.
Given the massive commitment that the British taxpayer made to rescuing these banks when things went wrong back at the time of the financial crisis, I think that it is a welcome sign that we are starting the process, and of course it will be a long process, of getting the taxpayers' money back.
Taxpayers still have a significant stake in the bank of more than 30 per cent, but Osborne added that the £3.21 billion deal is an "important step" in his spending plans.
Confirm have sold 6% of Lloyds shares at 75p. Profit for taxpayer & important step in plan to get their money back and repair economy
The sale of a six per cent share stake in Lloyds Banking Group has produced a cash profit of £61 million for the Government, and a 'fiscal profit', that will help the books, of £586 million.
However, taxpayers still have a significant stake in the bank of more than 30 per cent.
The Government has sold a six per cent stake in Lloyds Banking Group for £3.21 billion at a share price of 75p.
This morning the British taxpayer will learn what investors are prepared to pay for Lloyds banking group.
The figure should be around £3.3bn.
The Chancellor George Osborne has said the sell-off of Lloyds Banking Group "is another step of repairing what went so badly wrong in the British economy."
He added: 'I've been absolutely determined to get that money back for taxpayers and pay down debt, that is what we've started to do today."