All sales are used to reduce the national debt.
As required by Financial Conduct Authority (FCA) rules, Lloyds Banking Group announced today that the government’s shareholding in the bank has crossed through a one percentage point threshold.
The government has now reduced its shareholding in Lloyds to below 12%.
Chancellor of the Exchequer, George Osborne said:
"It’s fantastic news that we’ve sold more shares in Lloyds Bank, taking the total recovered to £15 billion. I am determined to build on this success, and to continue to return Lloyds to the private sector and reduce our national debt.
"A trading plan involves gradually selling shares in the market over time, in an orderly and measured way. The trading plan was launched on 17 December 2014 and will end no later than 31 December 2015."
