Conservatives pledge £4bn Lloyds Bank share sell-off

 
Jessica Morris
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The Conservatives are attempting to woo voters with a £4bn Lloyds share sale (Source: Getty)

The Conservatives are attempting to woo voters with up to £4bn worth of shares in government-backed bank Lloyds', if they win the election in May.

The shares would be sold below-market prices, with buyers who hold onto them for more than a year receiving a loyalty bonus, including one additional free share for every 10 share they still hold.

It's part of the £9bn share sale announced in the Budget in March.

Shares in the bailed-out bank have risen nearly four per cent so far this year, and were last trading at 78.75p.

"We haven't announced it before." Prime Minister David Cameron told the BBC.

"We've said we want to see Lloyds back in the private sector but we haven't said there'll be a retail offer so they can own shares in healthy, successful British banks."

"The crucial point is it's more of clearing up the mess that Labour left us. The taxpayer put £20bn into these banks and I want to get the money back."

"We've already recovered billions and this will help us to recover billions more to pay down the national debt."

"But I think that at the same time that having people in our country being able to own shares in healthy, successful British banks is the sort of country we should be building."

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