Chris Leslie, Labour’s Shadow Chief Secretary to the Treasury, commenting on the latest Tory announcement on Lloyds shares, said:

“The Tories have now announced this seven times. They promised it before the last election and they’re turning to it again just weeks before this election.

"The most important thing is getting best value for money for the taxpayer. That’s why we have said all the proceeds from selling back the government’s stakes in Lloyds and RBS should be used to repay the national debt.”