Lloyds sacked axed another two hundred workers on Tuesday. The redundancies were at the bank's general  insurance arm.  It took total job losses this year to 7,500.

The cuts will affect offices in Newport, south Wales, and West Yorkshire. Lloyds is now 43 per cent state-owned.

Solidarity Executive member David Kerr commented:-

"One of the worst things about Lloyds is the uncertainty they have created for workers. They abandoned plans last week to close the Cheltenham & Gloucester branch network. This was a welcome reprieve for 900 staff but it does indicate the confusion surrounding their planning and decision-making. The workers are left in limbo. The State now owns large shares in many banks and should be working toward the creation of a National Bank that could end not just uncertainty for staff but also more generally in our financial sector."