Commenting on the announcement that chancellor George Osborne had started the process to sell part of the government’s shareholding in Lloyds Banking Group, Dominic Hook, Unite's national officer for the finance industry, said: "This announcement will come as a shock to Lloyds workers. They have worked very hard to put this bank back together again.
“They, and the thousands of fellow workers who paid the price of boardroom recklessness with their jobs, deserve better treatment from the chancellor than a rushed out statement to suit the overseas stock markets.
"What exactly is this government's banking policy? Is it to reform the industry so that it works for the good of the nation? Or is if to fire sell these shares to make George Osborne's balance sheet look good?
"His moves now, as parliament is in recess and so not able to offer scrutiny will raise suspicions that he is playing fast and loose with the taxpayers' money for his own short-term political purposes.'
- Unite is Britain and Ireland’s largest trade union with 1.4 million members working across all sectors of the economy. The general secretary is Len McCluskey.