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Page last updated at 09:13 GMT, Saturday, 7 March 2009

Treasury takes 65% Lloyds stake

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The taxpayer is taking a controlling stake of 65% in the Lloyds Banking Group and will insure toxic loans worth �260bn.

Treasury Minister Stephen Timms said the bank will provide additional lending to mortgage and business customers of �28bn in the next two years.

SEE ALSO

Cable expects public control(02.55)
Taxpayer takes control of Lloyds (02.18)
Osborne wants 'value for money'(00.25)
Lloyds say HBOS a good deal(02.39)
Losses of �10.8bn for HBOS(01.44)
Brown reacts to HBOS losses(01.06)

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