U.K. Taxpayer Sees $95 Million Profit on First Lloyds Stake Sale

U.K. Taxpayer Sees $95 Million Profit on First Lloyds Stake Sale

Matthew Lloyd/Bloomberg

Chancellor of the Exchequer George Osborne, constrained by the biggest austerity program since World War II, could use the proceeds to fund tax cuts or more spending before the next general election, due in 2015.