Ian Murray MP, Labour’s Shadow Minister for Trade and Investment, commenting on reports that hedge fund TCI is the largest Royal Mail shareholder, said:

“David Cameron’s Royal Mail fire sale has seen the vast majority of shares going to big money investors in the City while the taxpayer is left short changed.

“The Tory-led Government claimed that the sale would prioritise long-term investors but serious questions will be asked on whether this is the case, not least given the huge volume of trades in Royal Mail shares which we have seen in the first days of trading running into hundreds of millions.

“Thanks to David Cameron, taxpayers have been left short changed to the tune of hundreds of millions of pounds at a time when families across Britain are facing a cost of living crisis.”