The UK government has reduced its stake in Lloyds Banking to just below 9% prior to selling all its stake last year. The government delayed the sale next year because of market turbulence. Finance Minister Phillip Hammond said the sale and recouping taxpayers' investment was one of his "top priorities". However, some politicians and banking analysts are questioning the timing of his decision considering bank shares are in a slump.
The UK government has reduced its stake in Lloyds Banking to just below 9% prior to selling all its stake next year. The government delayed the sale last year because of market turbulence. Finance Minister Phillip Hammond said the sale and recouping taxpayers' investment was one of his "top priorities". However, some politicians and banking analysts are questioning the timing of his decision considering bank shares are in a slump.