Lloyds and George Osborne

turbulent financial markets: It also my responsibility to ensure economic responsibility, so with these turbulent financial markets now is not the right time to have that sale, finance minister George Osborne said on Thursday, according to Euro News. We will sell Lloyds to the British people, but we will do so when the time is right. I want to create a share owning democracy. Britain had planned to further reduce its stake in the bank via a sale to major investors in the first few months of 2016, before sealing its exit with a discounted offer to the public. Lloyds shares were to be offered to retail investors at a 5 percent discount to the market price, with a bonus share for every 10 shares held by the investors for more than a year. But falling commodity prices and a faltering Chinese economy have sparked huge falls in global stock markets in 2016, sending Lloyds shares down 19 percent to 63.7 pence, well below the government 73.6 pence break-even price. (news.financializer.com). As reported in the news.