The Chief Executive of Lloyds Banking Group has hailed the Government's decision to sell six per cent of its share in the company, insisting it reflects the "hard work" put in to make the bank profitable and safe again.
Antonio Horta-Osorio said: “I am pleased that the Government has been able to begin the process of selling its stake, and give taxpayers the opportunity to get their money back.
"I believe this reflects the hard work undertaken over the last two years to make Lloyds a safe and profitable bank that is focused on supporting the UK economy.”
Chancellor tells ITV News the sale of £3.21bn worth of Lloyds shares will not necessarily trickle down to struggling households.
The Treasury has started the process of one of the most anticipated business deals in years, but will the taxpayer get their money back?