John Redwood
"Today I awoke to the Today programme telling me Lloyds was likely to receive another £5,000,000,000 from taxpayers to top up its capital. No, No, No. The answer must be No.
Lloyds has plenty of assets. They should sell some. Lloyds has too big a position in the UK mortgage market, thanks to the foolish acquisition of HBOS egged on by the government. It should be made to sell some of it off. Lloyds can now raise some money from private markets, so let it do so. Lloyds has enormous scope for cutting its costs, starting with the huge salaries its Board members and senior executives draw from a subsidised business."
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