Lloyds Bank shares

 

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

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One Comment

  1. Dennis
    Posted April 22, 2015 at 12:19 pm | Permalink

    “Yesterday David Cameron told us that a Conservative government will sell more of the Lloyds Bank shares which the taxpayer currently owns”

    I admit I don’t understand these transactions but as the taxpayers already own these shares why are we being told that we can buy them? Aren’t we paying twice – for the bailout and for the share? If later sold, maybe a profit or loss, then what gain is there really?

    Explain please.

    Reply Taxpayers were made to buy bank shares by the last government – not a great idea – a Conservative government aims to sell them at a profit as taxpayers need their money back.
    If an individual wants to buy shares then they will be able to enjoy the discount – which usually applies in order to sell such a large stake – why not?

  • About John Redwood


    John Redwood won a free place at Kent College, Canterbury, and graduated from Magdalen College Oxford. He is a Distinguished fellow of All Souls, Oxford. A businessman by background, he has set up an investment management business, was both executive and non executive chairman of a quoted industrial PLC, and chaired a manufacturing company with factories in Birmingham, Chicago, India and China. He is the MP for Wokingham, first elected in 1987.

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