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<p>The Chancellor of the Exchequer stated his intention to return Lloyds Banking Group
to the private sector over the coming year in his Mansion House speech of June 2015.
The proposal to launch a retail sale in Spring 2016 is consistent with this commitment.</p><br
/><p>The Government is determined to build a share-owning democracy and to continue
to reduce the national debt by making Lloyds shares available to the public. Final
decisions around the timing of a sale are dependent on market conditions, among other
factors.</p>
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