Osborne extends Lloyds trading plan

The Chancellor has extended the Lloyds trading plan for a further six months.

Related topics:  Finance News
Rozi Jones
4th December 2015
George Osborne

The trading plan has recovered over £9 billion for the taxpayer so far, and reduced the government’s remaining stake in Lloyds to around 9%.

Shares have been sold through the trading plan for an average price of over 81p, compared to the average 73.6p originally paid for the shares.

The government will stop the plan before the launch of its retail sale of Lloyds shares next spring.

The trading plan will end no later than 30 June, but may be stopped earlier to ensure the government holds sufficient shares for the retail offer.

George Osborne said:

"The trading plan has been a huge success, with over £9 billion raised for the taxpayer so far. This means we have now recovered over £16 billion in total, and we now own 9.2% of the bank. I’m today extending the plan to build on this success and recover further money for the taxpayer.

"As part of my plan to fully return Lloyds to the private sector, reduce public debt and build a stronger and safer financial system, Lloyds shares will also be offered to retail investors in spring 2016. This will allow hardworking people to buy a stake in our economy and help to build a share owning democracy."

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