MoneySaving Poll: Would you buy shares in a Lloyds Bank sell off?

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MSE_Eesha
MSE_Eesha Posts: 162 MSE Staff
First Anniversary Combo Breaker I've been Money Tipped! Newshound!
edited 21 April 2015 at 11:19AM in MoneySaving polls
Poll started 20 April 2015

Would you buy shares in a Lloyds Bank sell off?

The Tories say they plan to let the public buy up to £10,000 shares each in Lloyds Bank at a 5% discount (paid for by the tax payer) to the share price plus 10% extra shares if you hold them for a year. Labour & Lib Dems have pooh-poohed the idea.

If it happens – would you apply? Which of these is closest to your answer?
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Comments

  • mrweeble
    mrweeble Posts: 67 Forumite
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    I think the idea is a stupid use of government assets, but might consider taking them up on it anyway as would likely make a profit over the course of a year higher than I'd get in interest
  • pollypenny
    pollypenny Posts: 29,393 Forumite
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    Surely the government should retain its stake in the bank and use profits for the general good.


    I could afford shares, but I won't be buying.
    Member #14 of SKI-ers club

    Words, words, they're all we have to go by!.

    (Pity they are mangled by this autocorrect!)
  • mallin
    mallin Posts: 3 Newbie
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    I also think that if you have been with Lloyds for over 40 years as we have they should give us a further incentive of say another 1%. It would be a nice gesture and something to reward loyalty after all this time.
  • schnide
    schnide Posts: 129 Forumite
    edited 22 April 2015 at 1:56PM
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    Many people voting "Yes - I want to apply" in my opinion might get the government they deserve come May, but not necessarily the government they want. It's a blatant attempt to buy votes.

    Fall for it if you will, but there's more at stake than a minor windfall on shares in this election. Vote Tory because you believe in their policies, not for a bump in your bank balance. A Tory government might cost you a lot more if they're not the party you'd otherwise have voted for.

    This is John Major's last-minute tax cut bribe from the 1992 (?) election, just wearing a different coat.
  • Granny28
    Granny28 Posts: 29 Forumite
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    How can they sell us shares when we have already paid for them by bailing them out?
  • Fellwalker
    Fellwalker Posts: 92 Forumite
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    RANT AHEAD!
    This is the government giving to those who already have. It is an easy way of getting back some of the cash that has been put in, but the expenses of the scheme (no doubt it will have advisers, underwriters, huger expensive advertisements, forms to be posted out, designers, hangers on, spouses and significant others to be paid...) will reduce that, as will the discount and bribe to keep them. Fat cats and intermediaries of one sort or another will make a LOT of money.
    It is as bad as selling people who cannot afford or understand upkeep their houses. Near me we have rows of housing association houses, with lovely new black roofs that have a wide red band as a pattern in reverse Vs. In amongst those are private houses with old tatty plain grey roofs. It will be the same inside, where those in housing association hands get new insulation, bathrooms, kitchens and so on. It is a dreadful waste of taxpayers money, giving away the houses appallingly cheaply to people who cannot look after them.
  • Ectophile
    Ectophile Posts: 7,335 Forumite
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    schnide wrote: »
    Many people voting "Yes - I want to apply" in my opinion might get the government they deserve come May, but not necessarily the government they want. It's a blatant attempt to buy votes.

    Fall for it if you will, but there's more at stake than a minor windfall on shares in this election. Vote Tory because you believe in their policies, not for a bump in your bank balance. A Tory government might cost you a lot more if they're not the party you'd otherwise have voted for.

    It's not going to make me vote Tory because I think selling off taxpayers' assets for less than they're worth in a time of austerity is a stupid idea. It is very obviously a bribe aimed at those electors who have spare money to invest (i.e. those more likely to vote Conservative than Labour).

    However, if other people decide to vote for them, then I'm not one to turn down free money.
    If it sticks, force it.
    If it breaks, well it wasn't working right anyway.
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
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    No. I do not belong to the share understanding/holding/buying classes.
    :)

    I'm a pauper, who would be out of their depth and just sit on them, wondering all the time if I could/should do anything with them. One day I'd get hit by a bus and some other bugg*h would cash them in and go out for a jolly day out on the proceeds.... I'd rather think that if I had the money I'd be going on a jolly day out myself, now.
  • Butterfly_Brain
    Butterfly_Brain Posts: 8,862 Forumite
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    Tories selling off the family silver again!

    At least when we have nationalised industries we get a return that goes into the treasury!

    Privatising everything has led to us being ripped off by foreign cartels.
    Typical Tories sell it off for short term gain, instead of investing the profits for the good of the people of this country, such as in the starved of funding NHS, if the Tories get back in again you can wave goodbye to that.

    The same thing will happen to llyods as the total farcical sell off of our post office, most of the shares will go to their mates at a massive loss and the public will see hardly anything.

    Things are not looking good banking wise and the IMF has warned of liquidity problems in the global markets again, it seems that they have learned nothing whilst awarding themselves record highs in bonuses.

    All of which happened pre the2008 crash. Many economists are warning of a bigger crash than the 1930's, so taking a risk with banks is a bit dodgy to say the least.


    http://qz.com/126875/the-economist-who-predicted-the-financial-crisis-just-sounded-another-alarm-it-would-be-wise-to-listen-this-time/
    Blessed are the cracked for they are the ones that let in the light
    C.R.A.P R.O.L.L.Z. Member #35 Butterfly Brain + OH - Foraging Fixers
    Not Buying it 2015!
  • spanielson
    spanielson Posts: 20 Forumite
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    I have no idea how you buy shares but every time the government do this they appear to undervalue the asset so prices immediately rocket for those who got in. Perhaps I should do some research.
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