You are here: Home - News -

Taxpayers’ stake in Lloyds down to 2%

  • 03/04/2017
  • 0
Taxpayers’ stake in Lloyds down to 2%
The government has continued to sell shares in Lloyds Banking Group, reducing its remaining shareholding to less than 2%, after hitting the 3% mark just over two weeks ago.

The latest sales, conducted via the trading plan, mean the government has now recovered over £20bn of the £20.3bn taxpayers injected into Lloyds during the financial crisis, including share sales and dividends.

Economic secretary to the Treasury, Simon Kirby, said: “I welcome this further progress in returning Lloyds to the private sector” and added “we are very close to recovering all of the money taxpayers injected into the bank during the financial crisis.”

A trading plan involves gradually selling shares to institutional investors over time, in an ‘orderly and measured way’, according to the government.

The Lloyds trading plan initially ran from 17 December 2014 to 30 June 2016. Original plans to sell the remaining 9.1% share in the bank to retail investors on 7 October 2016 were dashed after the government blamed ongoing market volatility redirecting the share sale back to institutional investors.

All proceeds from the sales are used to reduce the national debt.

The Chancellor of the Exchequer, Philip Hammond said at the start of the year: “Returning Lloyds to the private sector and recovering all of the cash the taxpayer injected into the bank during the financial crisis is a priority for the government.”

On 9 January this year, the group announced the taxpayer was no longer the bank’s largest shareholder as it had recouped £18bn.

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
Peter Williams
Brokers report doubling of mortgage availability – IMLA

Twice as many brokers had no problem sourcing a mortgage for any client in the previous six months compared to...