Election 2015: Tories to offer cheap Lloyds shares to the public
The Tories are planning to sell shares in Lloyds bank to small investors at below market rates, if they win they general election.
Chancellor George Osborne set out plans to sell a further £9bn tranche of the taxpayers’ stake shares in the bailed-out bank in his final Budget of the last parliament last month.
On Sunday David Cameron announced that it will include a “retail offer” with a proportion of the shares being earmarked for sale at a discounted price for small investors.
Buyers who keep them for a year will be rewarded with a “loyalty bonus” of one additional free share for every 10 shares that they still hold.