UK taxpayers will be pleased to learn that the Treasury has made back around half of what it laid out to Lloyds (LON:LLOY) bank to bail them out seven years ago during the financial meltdown.
Today, the government sold more Lloyds shares back to private hands, and so far, around 500 million of them have been disposed of - to take its stake to below 20%, raising over £10bn.
The Labour government paid £20.5bn in 2008 to bail out the bank, which was on the brink of collapse.
By 2009, it was state-backed to the tune of 43%.
A series of share sales over the last two years has seen that stake reduce to around 19.9% and the government has cut the stake by 5% since the beginning of 2015.
Before the general election last week, the government said it would sell off its stake in the bank to the public should it remain in power.
Lloyds shares added 0.69% to 87.20p on Tuesday.