The Government pressed ahead with "an unnecessary and botched fire sale of Royal Mail," the shadow trade minister said.
Ian Murray said as a result of this, 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."
Mr Murray said: "The cross-party committee's damning report reinforces the significant criticisms which have already been made by the National Audit Office and others.
"David Cameron's Government still has serious questions to answer."
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Sir Vince Cable has become the new leader of the Liberal Democrats, after no other nominations were put forward.
Drying up across eastern parts this afternoon with showers continuing across Ireland.
Gordon Brown has said forced child migration schemes that continued until the 1970s amounted to "government-induced trafficking".