Yesterday the Chancellor of the Exchequer announced that he has outlined a trading plan to sell more of the Government’s shares in Lloyds Banking Group.
This decision was made on the basis of advice from UK Financial Investments Ltd that it would be appropriate to outline a plan to gradually sell shares in the market over a period of time, in an orderly and measured way and in accordance with pre-agreed parameters. The trading plan will last for approximately six months.
The Government are committed to returning Lloyds to the private sector and getting taxpayers’ money back. A statement will be laid before Parliament with further details at the end of the plan.
Future sales will always be subject to value-for-money considerations and market conditions.