Yesterday David Cameron told us that a Conservative government will sell more of the Lloyds Bank shares which the taxpayer currently owns. It is good news that Lloyds is now a stronger bank, capable of providing good service , helping to finance a recovery, and making profits and dividend for taxpayers.
I welcome the fact that taxpayers will get all our money back and some profit on the transaction. The state should not be owning banks, and we need the money to offset some of the extra borrowing the government is still doing each year.
Individuals wanting to buy a quantity of shares between £250 and £10,000 worth will be entitled to a discount of 5%. Discounts are not unusual when large share transactions like this one are undertaken. I welcome the way the discount will go to the smaller shareholder buyers.
Turning the banks round was an important part of getting the recovery going. The crash of the banks thanks to the destructive monetary and regulatory policy followed by the Labour government in 2005-9 was the cause of so much pain. It is great to see economic strength returning.
Published and promoted by Thomas Puddy for John Redwood, both at 3o Rose Street Wokingham RG40 1XU