Lloyds sell-off teaches George Osborne a valuable lesson in timing

Discussion in 'Market News' started by Lily, Jan 28, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
    Likes Received:
    The chancellor may blame the markets for the cancelled share sale but but a stock like Lloyds is a weathervane for the health of the UK economy

    George Osborne has discovered that share prices can go down as well as up. He has postponed his plan to flog £2bn worth of Lloyds Banking Group shares to the public because stock markets are deemed too “turbulent”, by which the chancellor means that Lloyds shares sit at 64p, well below the state’s break-even price of 73.6p.

    Spring had been the deadline for the sale – now it’s not. The scheme can be resuscitated at a later date but there is a simple moral to this tale: don’t make promises on timing because markets can make you look foolish.

    Related: George Osborne postpones sale of last publicly owned Lloyds Bank shares

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