Richard Burgon MP, Labour’s Shadow Treasury Minister, responding to the announcement of a delay to the sale of the government’s stake in Lloyds Banking Group, said:

“The timing of this announcement in the midst of George Osborne’s troubles with the Google tax deal will raise eyebrows.

 “The Lloyds share price has been trading below the Government’s breakeven price since the start of the year so this looks like little more than a distraction to draw attention away from the Tories’ secret deal with Google.

“When it comes to selling the Lloyds shares, Labour is clear that we need best value for the taxpayer. But people will take George Osborne’s claims with a pinch of salt given the Tories’ record on Royal Mail and RBS.”

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