UK government 'may sell stake in Lloyds Banking Group next year'
The coalition is likely to sell off its stake in Lloyds Banking Group next year, it has been claimed.
The UK government may undertake measures to sell its £65 billion stake in Lloyds Banking Group next year, it has been claimed.
Bloomberg cited four individuals who are familiar with the situation and reported that the sale is "likely" to begin during 2012, creating a one-time windfall.
The publication quotes Mark Wickham-Jones, a professor of politics at Bristol University, who claimed the money generated by such a move could be a "remarkable" opportunity for the coalition to initiate tax cuts before the next election.
Time Bale, professor of politics at Sussex University, was also consulted on the matter and asserted that this would not be the first time that a UK government has made such a move.
"It would certainly fit with the pattern of Conservative governments in the 1980s, who similarly managed to synchronise the economic cycle with the electoral cycle," he said.
Earlier in the month, the government was called upon by an alliance of media organisations to provide greater scrutiny to a merger between News Corp and BSkyB.