Conservatives announce plans for discounted shares in Lloyds Bank

Lloyds Banking Group, Trinity Road, Halifax.
Lloyds Banking Group, Trinity Road, Halifax.

Around £4 billion of shares in the part publicly-owned Lloyds Bank will be offered at a discounted price to small investors if the Conservatives win the general election.

The offer would be part of the £9bn sale of shares which was announced in the Budget in March.

Labour said the Tories had announced the plans at least seven times before, while the Liberal Democrats said the idea had been looked at by the coalition government but decided against because it was not clear the money could be recouped for the taxpayer.

The Halifax is part of Lloyds Banking Group which employs 6,000 people in Calderdale.