Skip to main content
Osborne looks to sell Lloyds as PPI mis-selling costs grow
Chancellor George Osborne is to sell off bailed-out Lloyds bank

Chancellor George Osborne is to sell off bailed-out Lloyds bank even as it continues to spend taxpayers' billions on repaying mis-selling victims.

The banking group confirmed yesterday it had set aside a further £1.8 billion for compensation, bringing total payouts to nearly £10bn over its flogging of useless payment protection insurance policies to customers.

Yet chief executive Antonio Horta-Osorio cheerily went on to project underlying profits of £6.2bn for the past year.

The 95th Anniversary Appeal
Support the Morning Star
You have reached the free limit.
Subscribe to continue reading.
Similar stories
The skyline of Canary Wharf in London as the cold snap continues to grip much of the nation, February 14, 2021
Inequality / 14 July 2026
14 July 2026

Trade unions call for windfall tax hike to fund social energy tariff to public’s energy bills

A tanker pumps out excess sewage from the Lightlands Lane sewage pumping station in Cookham, Berskhire which flooded after recent heavy rainfall, January 10, 2024
Features / 26 February 2026
26 February 2026

Channel 4’s Dirty Business shows why private companies cannot be trusted with vital services like water, says PAUL DONOVAN

Rachel Reeves and Jonathan Reynolds
Features / 8 August 2025
8 August 2025

SOLOMON HUGHES asks whether Labour ‘engaging with decision-makers’ with scandalous records of fleecing the public is really in our interests