Osborne: Lloyds share sell is boost for taxpayers

Chancellor George Osborne says the Government's sale of a six per cent share stake in Lloyds Banking Group will give taxpayers "their money back" and help "repair" Britain's economy.

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.

He tweeted:


Confirm have sold 6% of Lloyds shares at 75p. Profit for taxpayer & important step in plan to get their money back and repair economy

Read: Profits boost for government after selling Lloyds stake


Govt sells 6% Lloyds stake

The Government has sold a 6 per cent stake in Lloyds Banking Group for £3.21 billion at a share price of 75p.