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£13bn of bailout assets to be sold by gov’t

£13bn of bailout assets to be sold by gov’t

George Osborne announced the sale of £13bn of the mortgage assets held from the bailouts of failed institutions Northern Rock and Bradford & Bingley.

He also said that Lloyds Bank, which is part-owned by the government, had returned to profit, and was paying a dividend, so it was able to continue its exit from that bailout.

A further £9bn of Lloyds shares would also be sold in the coming year, he said.

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