Chancellor's chance 'to beat Ed Balls over the head'

The government has sold a 6% stake of Lloyds Banking Group for £3.21bn, reducing the public's share of the bank to just under one third.

Brown Shipley banking analyst Kevin Doran told BBC Breakfast the sale was not just for economic reasons, but also political ones.

He said "This gives the Chancellor the opportunity to beat Ed Balls over the head next week during the Labour party conference".