Cable: No apology over handling of Royal Mail sale

The Business Secretary has refused to apologise over the Government's handling of the privatisation of Royal Mail, after a critical report from the spending watchdog. The National Audit Office said ministers sold shares for less than they were worth.

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'Dunce' Cameron takes aim at 'muppet' Miliband

Ed Miliband has branded David Cameron a "dunce" over his handling of the Royal Mail privatisation, prompting the Prime Minister to attack his Labour opponent as a "muppet" over his role in selling off the UK's gold stockpile.

The pair clashes in a heated Prime Minister's Questions, in which the Labour leader claimed the Government had "lost £1.4bn for the taxpayer" by undervaluing shares in Royal Mail.

As well as his attack over the sale of British gold - which took place when Gordon Brown was Chancellor - Mr Cameron claimed Labour had themselves wanted to privatise the Royal Mail.

"The truth is this. You sat in a Cabinet that wanted to privatise the Royal Mail, they couldn't do it... because the trade unions won't let them," Mr Cameron said.

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