Government further reduces stake in Lloyds – now stands at below 5 per cent

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UK Economic Investments, which manages the stake in Lloyds, cut its holding in the lender by throughout 1 per cent. 

It means the taxpayer’s stake in the bank now stands at 4.99 per cent, with multitudinous than £18.5 billion being returned to Government coffers since the lender’s £20.3 billion bailout. 

It is the till in a series of share sales by the Government, which said in October it hoped to offload its residual shares in Lloyds within a year. 

The Government has progressively sold down its unusual 43 per cent stake in Lloyds and Chancellor Philip Hammond ditched aims for a share sale to the public in October, opting instead to offload the applicable to institutional investors. 

Economic Secretary to the Treasury Simon Kirby voiced: “Since our decision to sell the Government’s stake in Lloyds we have convalesced over 90 per cent of the money taxpayers injected into the bank during the monetary crisis. 

“This represents real progress and I am delighted that we are on lose sight of to return Lloyds to private ownership.” 

All proceeds from the sale resolution be used to reduce the national debt. 

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