'£230m taxpayer blow over Lloyds'

Press Association
Lloyds Banking Group
Lloyds Banking Group

Taxpayers took a loss of at least £230 million from the return of a 6% chunk of Lloyds Banking Group to the private sector, according to a National Audit Office (NAO) report.

The figure, which takes into account the cost of borrowing money to fund the £20 billion bank bail-out in 2009, appears to undermine a claim at the time by Chancellor George Osborne that the share sale in September represented "a profit for taxpayers".
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