Ian Murray MP, Labour’s Shadow Minister for Trade and Industry, commenting on the BIS Select Committee’s report on Royal Mail, said:

“Ministers pressed ahead with their unnecessary and botched fire sale of Royal Mail, despite widespread opposition and warnings. As a result, taxpayers have been short changed by hundreds of millions of pounds while the government’s ‘priority’ City investors made a killing at the public’s expense.

 “The cross-party BIS Committee’s damning report reinforces the significant criticisms which have already been made by the National Audit Office and others. By launching an inquiry into the Royal Mail fire sale this week, ministers have admitted what everyone else has known for months on the huge failings there have been. David Cameron’s government still has serious questions to answer.”