Looks like the public have been had over again. Just had this email from HM Treasury. Cheers.
Update on Lloyds Banking Group Share Offer
Thank you for signing up to receive updates about a Lloyds Banking Group share offer.
As the Chancellor announced today, we are withdrawing plans for a Lloyds retail offer. The government wants to get the best possible return for the taxpayer. Due to conditions in financial markets and current share prices, a retail offer at this point in time would not achieve this aim.
More details are available in this press notice