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MPs claim Royal Mail sell-off cost taxpayers £1 billion

Taxpayers have lost £1 billion over Royal Mail's privatisation because the Government underestimated demand for shares, MPs have reported.

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Cable: Royal Mail sale critics have benefit of hindsight

Vince Cable said MPs criticising the Government over the privatisation of Royal Mail have "the benefit of hindsight".

The Business Secretary said: "We sold at a price that was regarded as the best that could be achieved in the context in which we sold it."

"The point we have stressed ... is the price of shares is very, very volatile. These things go up and down."

"I think the wisdom of hindsight about price doesn't really help us very much."

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